By Wayne Veysey

3rd May, 2019 | 7:00am

Major Rangers boost as club back down on big 7-figure valuation of international - Ibrox Sources

Rangers have been given a major boost in their bid to sign defender John Souttar this summer as Hearts prepare to slash their asking price, Football Insider can reveal.

Steven Gerrard’s are in the hunt to land the Scotland centre-back in the forthcoming transfer window along with English Championship side Derby County.

An Ibrox source has told Football Insider that Hearts are ready to back down on their initial £5million valuation of the centre-back, 22, who signed a new contract in January.

The Edinburgh outfit are still holding out for a significant fee for Souttar, but accept a deal can be done for their prize asset for below the touted figure.

That is a major boost for Rangers, who are locked in another battle with Derby, and Gerrard’s former England teammate Frank Lampard, for the signature of one of the most highly rated defenders in the Scottish Premiership.

The Ibrox giants are unlikely to have the funds to pay £5m for Souttar, as that would eat into a huge portion of Gerrard’s summer transfer budget.

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The Hearts ace is on Rangers’ radar as they look to strengthen in central defence this summer, with loanee Joe Worrall due to return to parent club Nottingham Forest and veteran Gareth McAuley out of contract at the end of the season.

Souttar has had an excellent campaign for Hearts, where he has a deal that runs until June 2022.

In other Rangers news, it can be REVEALED that the Scottish giants are plotting a swoop to sign a St. Johnstone player in the form of his life.