Kevin Phillips insists Jermain Defoe will have to take a pay cut to stay at Rangers with his contract set to expire this summer.
The former Sunderland striker, speaking exclusively to Football Insider, claims Rangers will be looking at better ways to spend the money they are currently shelling out on Defoe’s weekly wage.
Defoe is earning more than £30,000-a-week which places him as one of the top earners at Ibrox.
Defoe, 38, has only started five games for Rangers in all competitions this season with a further 10 outings coming from the bench.
Phillips insists that Defoe will want to stay at Ibrox but he can’t see the club offering Defoe a new deal on the same terms as his current contract.
“I’m sure he wants to stay, at this stage of this career he’s earning good money,” Phillips told Football Insider correspondent Dylan Childs.
“It’s comfortable for him up there and he knows that if he’s called upon he can still perform because he’s still sharp and fit.
“Do I see Rangers offering him a new deal on with his current wage? I don’t think they would.
“They could look to free that wage up and bring in a younger version of Defoe or bring in a couple of new players in other areas.
“I’d be very surprised if he was to be on those terms next season considering the age he is as well.”
Defoe has managed to pick up five goals and two assists in his 15 appearances this season, most recently scoring against Cove Rangers in the Scottish Cup.
He initially joined Rangers on loan from Bournemouth in January 2019 after an unsuccessful spell on the south coast before signing permanently that summer.