The 22-year-old has been a revelation in Scotland since joining Rangers on a season-long loan from Liverpool.
Kent was the Gers' best player in last month's 2-1 defeat by Old Firm rivals Celtic but his price-tag has risen dramatically.
According to The Echo, the Reds might be looking for up to £12 million for the English winger.
But Ferguson is hopeful that Liverpool icon Steven Gerrard can get a favour from his former club.
He told PLZ Soccer: "Rangers have got to pull out the stops to get him [Kent]. Whether Steven Gerrard can get a favour off Liverpool. He has got to be a major signing."
The Ibrox faithful would go into meltdown if a permanent deal could be secured, but admittedly it seems a long way off.
That's a hell of a lot of money for Rangers to spend on one player.
Even if they receive a huge windfall from Alfredo Morelos's potential sale, the majority of it would need to be spent on Kent and it seems unlikely that the light Blues would greenlight such a big-money move.