According to The Scottish Sun, Hibernian have immediately rejected Rangers' latest offer to sign star midfielder Scott Allan, which was worth £280,000.
Rangers boss Mark Warburton has already added seven new faces to his first-team squad this summer, but his top target has yet to sign for the club.
Hibernian midfielder Allan, who joined the club from West Bromwich Albion last summer, played a starring role last season as Alan Stubbs took his side the play-offs, only to lose to Rangers over two legs.
Now, 23-year-old midfielder Allan is the subject of intense speculation, with Hibs confirming on their official website last week that the player had submitted a transfer request in light of two rejected bids from Rangers.
Rangers have now submitted a third bid for Allan in the hope of finally bringing him to Ibrox - but according to The Scottish Sun, that bid of £280,000 has been promptly rejected by their Championship rivals, who are adamant that they will not sell Allan to Rangers - despite his contract expiring next summer.
It's unclear just how much further Rangers are prepared to go in order to sign Allan, and having paid fees to sign James Tavernier, Rob Kiernan, Jason Holt and Martyn Waghorn, manager Warburton may not have much more money left in his budget.
Rangers are clearly desperate to sign Allan and give their midfield a boost, but Hibs are standing firm so far - and Warburton's men may have to get closer to around £500,000 if they are to sign Allan and win this lengthy transfer saga this summer.