£100,000-a-week Rangers contract news emerges after latest Ibrox development

Rangers have made around £100,000 available per week following the release of several senior stars, according to the Scottish Daily Mail.

On page 97 of their 2 June print edition, reporter Calum Crowe details that the exodus of players at Ibrox including Ryan Jack, John Lundstram, Borna Barisic, Kemar Roofe and Jon McLaughlin clears a hefty sum which can be reinvested into the squad as Philippe Clement's squad renovation gets under way.

The club have also notably offered veteran defender Leon Balogun a one-year extension to his existing contract.

Crowe reported: "The departure of five players is likely to free up a significant chunk of wages as Clement looks to rebuild the squad.

"The Rangers manager has already outlined his intentions to embark on a major overhaul during the summer.

"The exit of Jack, Lundstram, Barisic, Roofe and McLaughlin is understood to have freed up over £100k a week in terms of wages."

Quintet depart Rangers, Leon Balogun stays

The news of Balogun's contract was confirmed over the weekend following initial reports last week that the Nigerian international had committed to a further year at Rangers.

Despite just 14 appearances in the Scottish Premiership in 2023-24, Balogun is a key figurehead of the dressing room and his presence maintains some continuity in what will be a chaotic summer of transfer activity at Ibrox.

News of the five major departures comes as little surprise, with several of the players getting potential moves lined up having seen their time in Glasgow naturally run its course.

Of the 10 players aged over 30 in the Gers' first-team squad, half are being released by the club. One of those staying is Balogun, now currently the oldest player at Clement's disposal with skipper James Tavernier the next-most senior at 32.

Clement will know he has to bring in some experience as a replacement to some degree as Rangers look to snatch the title back from Celtic, but he will also be looking for young talent with opportunities to kick on next season.

In other Rangers news, Billy Gilmour has reacted to the news of Scotland teammate Ryan Jack's release by the club.

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