By Wayne Veysey

5th Sep, 2020 | 9:00am

Ibrox Sources: Big update on Rangers bid to sign £3m-valued PL star

Rangers are still in the hunt to sign Jacob Murphy but Newcastle United may not let him go until close to the October transfer cut-off, Football Insider understands.

As revealed by this site, the Gers have made an approach for the 25-year-old but have been joined by Sheffield Wednesday, Nottingham Forest and Stoke City in the race to land him on a season-long loan deal.

A recruitment source has told Football Insider that Newcastle want to strengthen their squad before letting Murphy go.

The north-east giants are closing in on multiple new signings, including winger Ryan Fraser, centre-back Rob Holding and potentially a new striker and left-back as well.

Should manager Steve Bruce get the deals he wants over the finish line, it is then expected that Murphy will be allowed to leave.

Newcastle value the wide man at around £3million now that he has entered the final 12 months of his contract.

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They will listen to permanent offers for him but a loan is deemed to be more likely.

Newcastle are demanding that interested suitors cover the winger’s wages of around £40,000-a-week as well as splash out a £1million-plus loan fee to take him for the season.

Murphy, who can play on either wing, spent the whole of last season at Sheffield Wednesday and made a total of 44 appearances, with nine goals and six assists under his belt.

He scored four goals in the Owls’ final five Championship games and his fine form has caught the eye of Rangers boss Steven Gerrard.

The Gers are looking to strengthen their attacking options further after the arrival of Kemar Roofe and Cedric Itten, while Ryan Kent’s future is in doubt as Leeds United ready an improved bid for the winger.

Murphy has played a total of 41 times for Newcastle but his last competitive appearance for the club was in January 2019.

In other Rangers news, Alan Hutton has told defender to join a new club as Ibrox terms agreed.