Steven Naismith made his Scotland debut against the Faroe Islands
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Kilmarnock chairman Michael Johnston says Rangers' latest offer for Steven Naismith falls "well short" of the figure they're looking for.
"We've given them an indication of the kind of figure that would make us think about selling," explained Johnston.
"So far, they haven't come near that, therefore we're a long way from reaching an agreement."
Rangers made two previous offers for the 20-year-old, but have again fallen short of Killie's valuation.
Naismith, who scored 19 goals for Killie last season, has been linked with both Old Firm clubs this summer.
Sunday newspaper reports had claimed the Scotland international was poised to move to the Glasgow club this week.
A source reputed to be close to the player reportedly claimed that the completion of a deal was imminent.
Rangers have already signed five players this summer, with Kirk Broadfoot, Alan Gow, Jean-Claude Darcheville, Graeme Smith and DaMarcus Beasley arriving at Ibrox.