the Scotland midfielder has never hidden where his heart lies. But Football Insider’s latest exclusive suggests the Serie A club have no intention of letting him leave, and the price, the paperwork and the Raskin question are all in the way.
Every transfer window, the same name comes up at Ibrox. It surfaces in newspaper columns, on fans’ forums and in the mouths of former players. Lewis Ferguson and Rangers. Rangers and Lewis Ferguson. The story has been running for around 18 months, and it shows no sign of finishing
On Saturday morning it took another turn. Football Insider reported, citing sources, that Ferguson is unlikely to join Derek McInnes’ side in January because Bologna plan to block any approach. The club’s stance, according to the report, is straightforward: they have no plans to let their captain leave.
Pete O’Rourke, Football Insider’s transfer correspondent, said on the outlet’s Transfer Insider podcast that the link will never fully disappear, because of the obvious ties between the player and the club. But he also said he cannot see anything happening imminently, because Ferguson is doing well for Bologna and the price tag needed to even tempt the Italians would be big. His verdict was that, for now, the move looks like a “non-starter”.
For Rangers supporters, that is a frustrating line to read. Ferguson is not just another target. He is a player whose family history is woven into the club, who has said publicly that he grew up supporting them, and whose career path has taken him from Ibrox’s academy to the Serie A trophy cabinet. This is the story of why he matters so much, how a deal came to nothing in the summer and why January
Lewis Ferguson was born on 24 August 1999 and is now 27. His connection to Rangers goes back to childhood. He spent time in the club’s academy between 2009 and 2013, and he also came through the youth system at Hamilton Academical, making his senior debut for Accies in the 2017-18 season
The family background is just as important as the playing record. His father, Derek, is a former Ibrox midfielder, and his uncle, Barry, also played for the club. Both have worn their allegiance openly for years, and both have kept a public profile in the Rangers media world since retiring. When Lewis says that his family is involved in the club, he is describing something concrete.
That is why every comment he makes about Rangers is scrutinised so closely. Last week, speaking while on international duty with Scotland, he was asked directly about the summer speculation. His answer was warm but careful. He said it was no secret that he grew up a fan and that his family is involved in the club. He described a move to Ibrox as a dream and an aspiration from childhood, and he said that had not changed. But he also made clear that he did not want to speak about the subject while he is still a Bologna player, because he has too much respect for the Italian club.
It is a revealing quote. It does not say he wants to leave. It does not say he would refuse to stay. It says that, one day, it may happen, and that it has always been in the back of his mind. For a player who has captained a Serie A side and won a trophy there, that is a measured way to describe a long-term ambition.
Ferguson’s rise has been well documented, but it is worth recapping, because it explains why Bologna value him so highly.
After his debut at Hamilton, Ferguson moved to Aberdeen, where he spent four seasons. It was there that he came under the management of Derek McInnes, now at Rangers, and developed into one of the most effective midfielders in Scottish football. In 2022, he left the Premiership for Bologna in a deal reported at around £2.5million.
Football Insider’s latest report makes a point that will sting Rangers fans: the club passed up the chance to sign him while he was at Aberdeen. They have, the report says, been made to regret that decision, as Ferguson has gone on to make around 140 appearances for the Serie A club and captain them to their first trophy in 51 years, when they won the Coppa Italia last year.
The numbers tell their own story. Ferguson has become a leader in Bologna’s dressing room, and this season he has played every minute of every Serie A match, according to Sky Sports, after not featuring as regularly towards the end of last season. A captain who is playing without rest and playing well is a captain his club will not want to lose in the middle of the campaign.
He also played for Scotland at the World Cup this summer, a stage that raised the profile of several players, including Rangers’ own Nicolas Raskin. After the tournament, Ferguson has said, he had a long think about his future and was a little unsure about what to do. He ultimately stayed in Italy
According to Ferguson’s father, Derek, the midfielder had agreed everything with Rangers. Speaking on the Open Goal podcast, he said it was time for his son to take on a new challenge after four years in Italy. In another account, the family gave the impression that a deal was close to being finalised, with personal terms agreed
Football Insider’s own reporting supports part of that story. The outlet says Derek Ferguson revealed that his son had agreed personal terms with Rangers in the summer, but that the club failed to submit a concrete offer before the deadline passed. A separate Football Insider report, based on sources, said there was never a bid put in, although a lot had been agreed behind the scenes with the player himself.
Lewis, however, has painted a different picture. He said that nothing was ever really that close. When he returned to pre-season with Bologna, he said, there was a new manager and it felt like a fresh start. The club has since changed manager again, which adds another layer of uncertainty to his situation in Italy.
How do you reconcile those versions? The most likely answer is that they describe different things. It is quite possible that Ferguson and Rangers discussed terms informally and reached a broad understanding about what a contract might look like. It is also quite possible that no formal offer was ever lodged with Bologna, and that without that offer the deal never moved beyond the realm of possibility. A father who has spent his life at Ibrox may naturally describe that situation as an agreement, while a player who has to answer to his own club will naturally describe it as nothing concrete.
What can be said with confidence is that the transfer did not happen, and that the reasons were financial, logistical and tactical rather than a lack of desire on
The biggest obstacle is money, and the figures floating around are striking.
Several reports suggest that Bologna initially asked for around £17million for the midfielder. Other, less formal accounts claimed his value rose sharply after the World Cup, with some suggesting figures as high as £25million to £30million. Those higher numbers come from blog-style outlets and should be treated with caution, but they point to a general truth: Bologna know they have a valuable asset.
Football Insider reported three weeks ago, again citing sources, that Rangers would have to pay at least £15million to have a chance of signing Ferguson in January, and that Bologna would accept an offer at that level. The same report said the Italian club were determined to hold firm on their valuation despite the player’s long-standing desire to join his boyhood club. His contract, reported to run until 2028, gives Bologna the upper hand.
That figure would be a huge outlay for Rangers. Alex Rae, the former Rangers midfielder, has argued that spending between £15million and £20million, plus wages, would be madness. In his view, Ferguson would not have much sell-on value, and Rangers’ model of buying cheaply and selling at a profit does not fit such a deal. He suggested the club should wait until 2028, when the midfielder’s contract expires and Bologna might be willing to sell more cheaply
There is logic to that argument. A 27-year-old midfielder has a resale value that declines rather than grows. For a club that has built its recent strategy on identifying young talent and selling at a profit, paying a premium for a player at his peak is a significant departure.
But there is also a counter-argument. Ferguson is a proven international, a captain at a top European club and a leader who has performed at the highest level. If Rangers want to compete at the top of the Scottish game and in Europe, they need players with that experience. The question is whether the price is worth paying
The Belgian, who is 25, was widely expected to leave Rangers this summer. Besiktas were reported to be interested, and a swap deal that would have sent Raskin to Bologna and brought Ferguson to Ibrox was widely discussed. But the deal never materialised, and Raskin stayed.
Subsequent reports have said that the Belgian is keen to stay with Rangers to help them towards the Scottish title this season, and that the club do not wish to sell him until the end of the campaign. Besiktas have not given up, and TeamTalk reports that Raskin is their main signing target for January, despite their failure to land him this summer.
That matters because, according to some reports, Raskin’s presence is part of the reason Rangers could not move for Ferguson. One account argues that McInnes must offload Raskin before advancing a January transfer for Ferguson, because of the tactical space and finances involved. Another report notes that, because Rangers retained Raskin, they did not need to make a marquee midfield signing in the summer.
This is a squad-planning problem that echoes another story at Ibrox this week. Just as the failed exit of a senior defender appears to have prevented the club from signing a younger replacement, the decision to keep a valued midfielder has made it harder to add another. In both cases, a squad with limited spaces and a finite budget has to balance competing priorities.
The situation is not necessarily a mistake. Raskin is a good player who performed well at the World Cup, and Rangers have valid reasons for wanting to keep him. But it does mean that a Ferguson deal would require difficult choices: either Raskin leaves and Rangers lose a key player, or they pay a large fee for a second top-level midfielder when they already hav
Derek McInnes has not said much publicly about Ferguson in recent weeks, but the reports suggest he is an admirer. He managed him at Aberdeen, knows what he can do and understands what he would bring to the Rangers midfield.
Football Insider reports that McInnes is an admirer of Ferguson’s talents, but that the club face an uphill battle to revive talks in January. That is a diplomatic way of describing a situation in which the manager wants a player but the club cannot easily deliver him.
It is also worth considering McInnes’s current squad. The engine room appears settled, and one report notes that it is doubtful whether midfield is an area the club will look to address in January. With Raskin in place and other options available, the manager may feel that his priorities lie elsewhere, perhaps in defence or attack.
That is a significant point. The case for signing Ferguson is emotional and romantic as much as tactical. Supporters love the idea of a boyhood fan returning home. But a manager must make decisions based on what the team needs, and if the midfield is performing well, a £15million-plus investment is hard to justif
From Bologna’s point of view, the logic is simple. Ferguson is their captain, he is playing every minute and he is performing at a high level. He has a contract until 2028. They have no financial reason to sell and every sporting reason to keep him.
There is also the question of managerial instability. Ferguson himself noted that Bologna have changed manager twice since the summer, which suggests a club in some flux. In those circumstances, selling the captain in January would be a risky move. A new manager may rely heavily on a leader like Ferguson to provide continuity.
The reported plan to block approaches is therefore not a surprise. It is the standard behaviour of a club that values a player and does not want to be forced into a sale. January transfers are notoriously difficult, because clubs are reluctant to weaken their squads in mid-season and replacements are hard to find. Unless Rangers are willing to pay a significant premium, Bologna are unlikely to negotiate.
There is one important caveat. A player’s wishes can change the dynamics of a transfer. If Ferguson were to push for a move, Bologna’s position could soften. But there is no sign of that happening. His public comments have been respectful and measured, and he has explicitly said he does not want to discuss a future move while he is a Bologna player. That suggests he will not force the issue
Ferguson’s contract runs until 2028, and that date is significant. As it approaches, Bologna’s bargaining position will weaken. If he does not sign an extension, the club will have to choose between selling him for a reduced fee and losing him for nothing. That is when Rangers’ chances improve.
It is also when Ferguson will be 28 or 29, still in his prime but with less resale value. For a club like Rangers, that age is acceptable if the price is right and the player is expected to contribute for several seasons.
There are other scenarios. Ferguson might sign a new deal with Bologna, extending his stay in Italy. He might move to another club in Serie A or elsewhere in Europe. Or he might decide that the time has come to return home and push for a move himself.
His comments suggest that the last of these remains a real possibility. He has said that in the future, you never know, and that it might happen or it might not. That is hardly a definitive statement, but it is also not a denial. For Rangers supporters, it is enough to keep hope alive
The Ferguson story is part of a wider narrative about how Rangers approach recruitment. Over the past 18 months, the club has gone through significant change, including departures at executive and sporting director level and the arrival of consultants to advise on football strategy. McInnes has overseen a rebuild with a dozen signings in the summer, but the failure to land Ferguson shows that not every target can be secured.
It also illustrates the tension between sentiment and strategy. Fans want to see boyhood supporters in the team, and Ferguson is the perfect example. But football clubs must be run on rational lines, and a deal that does not add up financially or tactically is hard to justify.
In that sense, the reported Bologna block may be a blessing in disguise. It removes the pressure on Rangers to make a decision they may not want to make, and it allows McInnes to focus on the squad he has. If Ferguson does join in the future, it will be on terms that
The headline is stark, but the reality is more nuanced. Rangers have not been formally blocked from signing Lewis Ferguson. What has happened is that the reported stance of Bologna, combined with a high price, a crowded midfield and a player who is committed to his current club, makes a January deal highly unlikely.
For supporters, that will be disappointing. Ferguson is a boyhood fan, the son and nephew of Rangers players, and a leader on the pitch. His arrival would be a statement of intent and a powerful emotional moment. But football is rarely driven by emotion alone, and the facts on the ground suggest that the dream will have to wait.
That does not mean it is over. Ferguson has made clear that the ambition remains. Bologna’s position will weaken as his contract runs down. And Rangers, if they can manage their squad and finances sensibly, may find themselves in a better position in 2028 or earlier.
In the meantime, the link will stay alive, as Pete O’Rourke says, because of the obvious ties between player and club. And every window, someone will ask the same question. For now, the answer is the same one Ferguson himself has given: it might happen, it might not. What is certain is that, for a lifelong Rangers fan, the dream has not gone away
