By Wayne Veysey

26th Feb, 2021 | 9:30am

Sources: Key update on Rangers potentially selling Morelos after £16m document reveal

Rangers know their best hope of securing a blockbuster fee for Alfredo Morelos this summer rest on him delivering more show-stopping Europa League displays.

Manager Steven Gerrard cryptically claimed “I know why he likes this competition” after the Colombian spearheaded a thrilling 5-2 win over Royal Antwerp on Thursday night to secure a 9-5 aggregate triumph and book a place in the last 16.

Ibrox sources have told Football Insider that the price tag the club can set for Morelos depends on him dazzling when the eyes of Europe’s big guns are watching.

Rangers would have accepted a bid of around £12m for Morelos at the end of the last summer window after they were unable to agree a deal with his most persistent suitors Lille.

That could be pushed beyond the £15m mark if he terrorises more European defences like he did to Antwerp.

Morelos had a hand in four of Rangers’ five goals and supplied a remarkable five assists across the two legs as well as scoring one himself.

Subscribe to Football Insider TV now

He scored 14 of his 29 goals last season in the Europa League and has followed that up with three goals and six assists from eight matches in the competition this season.

Scoring prolific in the Scottish Premiership is not valued to the same extent by cross-border and overseas clubs as doing the same in Europe, especially in the high-profile knockout stages.

Along with Ryan Kent, Morelos is the Light Blues’ prize asset and the one most likely to secure a major fee in the summer window.

There is likely to be at least one significant player sale at Rangers to fund spending in other areas of the squad.

Morelos is out of contract in the summer of 2023 and last signed a new deal in March 2019.

The likelihood is that Rangers will finally cash in on him in the next window, or tie him down to a blockbuster new contract.

The club posted a loss of £15.9million in their most recent financial results despite revenue increasing 11 per cent.

The striker has an outstanding scoring record at the Light Blues, with 90 goals and 41 assists from his 171 matches in all competitions.

In other news, Premier League high flyers plot swoop for Rangers ace after contract talks update.