By Wayne Veysey

7th May, 2019 | 7:00am

Ibrox Sources: Rangers ready talks to terminate contract of 26-year-old

Rangers are ready to hold talks about terminating the contract of Jason Holt, Football Insider understands.

The central midfielder, 26, returned to Ibrox a month before his season-long loan at League One club Fleetwood Town was due to end after suffering a campaign-ending knee injury.

A club source has told Football Insider Rangers are eager to get Holt off their wage bill ahead of the summer window so they can use the funds to strengthen their squad.

The Ibrox hierarchy are willing to discuss paying up a chunk of the final year of the ex-Hearts man’s contract, which runs until the summer of 2020.

Rangers accept they may find it difficult to secure a buyer for Holt, given the injury he has sustained could keep him out for the start of next season.

The midfielder had a fine campaign at Fleetwood, where he made 29 league starts among 36 appearances in all competitions and manager Joey Barton has spoken of his eagerness to sign him permanently.

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Holt is a favourite of the Ibrox faithful, but the club do not believe he can compete for a regular starting role in midfielder against the likes of Steven Davis, Ryan Jack, Glen Kamara, Ross McCrorie and Scott Arfield, as well as Greg Docherty, who has had an excellent season on loan at Shrewsbury Town.

In other Rangers news, it can be REVEALED the club are working on a deal to sign a player who has got Sir Alex Ferguson drooling.