Rangers have been warned they must meet Fulham's asking price for Steven Davis if they want the Northern Ireland midfielder at Ibrox next season.

The London side have refused to lower their valuation of the former Aston Villa player.

They paid Villa around £4million for Davis 12 months ago and are thought to want to recoup their investment in the player who was allowed to join Rangers on a loan basis in January.

Rangers have made early moves this summer for Davis, in an effort to have him available for their pre-season programme, but Fulham boss Roy Hodgson has revealed he sees the 23-year-old as part of his first-team plans.

Hodgson said in the Daily Mail: "I know Rangers are interested in buying him and they have made bids which, so far, we have not found acceptable. He will only leave if a club matches our valuation."

The former Inter Milan boss added: "Every player has his price but, as far as we are concerned, Steven is still part of our squad and he will be welcomed back here."

Meanwhile Rangers may face another bid from Cardiff for Kris Boyd before the end of the week after rejecting an initial offer of around £2.5million.

Cardiff chairman Peter Ridsdale was not worried by comments from Steven Thompson, the Bluebirds' former Rangers striker, suggesting Boyd should be looking to play in the Barclays Premier League.

Thompson also urged Boyd to look at Cardiff, and Ridsdale told the Daily Express: "I'd prefer it if nothing had been said, but Steve's quotes say Boyd is a great striker who ought to be in the Premiership.

"That's why we're trying to sign Boyd."