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Rangers have £25M of loan players to make permanent
Rangers loan permanent
GLASGOW, SCOTLAND - JULY 26: Ben Godfrey of Rangers with a headed clearance during a pre-season friendly match between Rangers and West Ham at Ibrox Stadium on July 26, 2026 in Glasgow, Scotland. (Photo by WM Sport Media/Getty Images)

As Rangers fans may be aware, the club has a number of players on loan with option to buy permanent.

Kosta Nedeljkovic, Bed Godfrey, James Penrice and Badredine Bouanani are all loan players with option to purchase at the end of the loan.

Here presents Ibrox Noise’s assessment as we approach November of those players’ chances of making the move permanent.

Nedeljkovic:

The Serbian has failed painfully to break into Rangers’ first team. This is following a pattern of his failing to do likewise at both parent club Aston Villa, and previous loan outfit Leipzig.

At just 20-years-old, Rangers loan ex-Red Star defender has found his opportunities to be permanent at Ibrox non-existent. Dujon Sterling is the outstanding right back in Govan at present.

As things stand, the lad remains nothing more than squad depth. Assuming Sterling retains his fitness, he will be Rangers’ first choice for the foreseeable future.

Kosta either must bide his time, or the reality is Rangers may just send him back to Villa next summer. As things stand, Rangers aren’t shelling £4.5M on this kid.

Godfrey:

Enjoyed some major game time before injury, but wasn’t terribly impressive. His lack of power and presence felt unconvincing, and he wasn’t much of a leader either, despite once captaining Norwich in a previous life. Once the injury hit him, Rangers signed Olwethu Makhanya, and Godfrey hasn’t had a look in since.

As things stand, he will likely return to Atalanta for another loan out elsewhere because £3.5M doesn’t feel like value for him at present.

Penrice:

An absolute steal at £400,000 for the initial loan. Penrice has assured himself of a permanent contract next summer with instant impact. His outstanding first few months have made Tuur Rommens’ life much harder, and with the purchase set at a total of pure daylight robbery of £1.2M, this is a boy who, if all is pure and holy, will be a certain buy.

Bouanani:

The Algerian has finally broken into the first team, and he’s been completely excellent. He’s been operating on the right wing, and he’s making life tough for defences all over the country.

A real touch of class, he’s confident and quick, and he has skill to burn. He beats defenders with great ease, and has already scored one utter stunner of a goal. Should have got a second against St Johnstone.

With the fee claimed to be set at around £15M Rangers would have to shell out a Scottish record for him, but keep this form up and it may be hard to reject the boy. Looking at his quality, it’s not hard to see why the fee is so huge.

But Rangers have spent £11M on Youssef Chermiti and an initial £9.5M on Kevin Kelsy rising potentially to more like £12M with addons. So £15M on Bouanani is not that ridiculous.

Time will see which of these loans make the cut.

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