Rangers are reported to be pursuing a landmark transfer that would shatter the club's long-standing spending record — a deal to bring Bologna captain Lewis Ferguson back to Scotland.

The speculation gained fresh momentum after defender Ross McCrorie, speaking on his return to Ibrox, voluntarily mentioned Ferguson, recalling their shared time in Rangers' academy and their years together at Aberdeen under manager Derek McInnes. Fans reacted with immediate excitement at the prospect.

Bologna's steep valuation

Neither Rangers nor Bologna have commented publicly on the reported interest. Ferguson is understood to be keen on returning home, but discussions will be delayed until he returns from a post-World Cup break next week.

Reports suggest Bologna have placed a £17 million price tag on the 26-year-old. Should Rangers meet that figure, it would eclipse the club's transfer record — £12 million spent on Tore Andre Flo from Chelsea back in 2000.

Ferguson has been Bologna's captain since 2023 and was part of the squad that lifted the Coppa Italia last year, ending the club's five-decade wait for silverware. Over four seasons in Serie A, he made 135 appearances across all competitions.

Ferguson's World Cup impact

His value has been further underlined by his performances at the World Cup this summer. Ferguson was arguably Scotland's standout player across their three group-stage matches against Haiti, Morocco, and Brazil, playing every minute of all three.

Among all Scotland players, he recorded the most accurate passes per 90 minutes and ranked second for tackles, defensive contributions, and possession regains in the final third. Captain Andy Robertson had already identified Ferguson as Scotland's most important player during World Cup qualifying.

Prior to his move to Italy, Ferguson averaged nine goals per season across four campaigns at Aberdeen, where he also contributed 23 assists. Goals have become scarce in Serie A, but he was named Serie A midfielder of the year in 2023-24, and his World Cup displays reinforced his standing as a complete central midfielder.

The leadership question

Beyond his technical qualities, Ferguson would return to Ibrox as an experienced leader — something Rangers have lacked since James Tavernier's departure and goalkeeper Jack Butland's exit. His family ties to the club run deep: his father Derek played for Rangers between 1983 and 1990, and his uncle Barry Ferguson is a legendary former captain who also managed the team on an interim basis last year.

Manager Derek McInnes has spoken about wanting a strong Scottish core in his squad. The arrivals of Lawrence Shankland — signed for nothing via a break clause in his Hearts contract — and McCrorie, who rejoined for a reported £1.5 million, already reflect that philosophy. Ferguson would complete that spine.

With uncertainty surrounding the future of Nicolas Raskin, a substantial sale of the Belgium midfielder could help fund what would be a statement signing. Rangers demonstrated a willingness to invest heavily last season, and Ferguson — given his Premiership track record and growth since leaving Scotland — would represent a lower-risk option as the club seeks to end a trophyless run after finishing third last term.