Dutch striker Michael Mols has finally accepted a new one-year, cut-price deal to stay with Rangers.
Michael Mols has had offers from other clubs
The news came 24 hours after his agent said that, although Mols was prepared to take a wage cut to stay at Ibrox, he was holding out for Rangers' initial offer to be improved.
Rangers director of football business Martin Bain believes that the re-signing of Mols
for another season will be a huge bonus to the club's Champions League hopes.
"At the end of the season, we made it clear that we wanted to keep Michael and he also indicated that he was happy to stay," Bain told his club's official website.
"We had a break for a couple of weeks, but it was fairly easy putting the
paperwork together and we are delighted to have reached agreement with Michael.
"He brings a lot of experience, especially at European level, and that will
be important for the squad next season."
Barry Ferguson is simply not for sale
Rangers chairman John McClelland
Mols had been linked with a move back to Holland and Leicester City in the
Barclaycard Premiership this summer.
The former Utrecht man became a fans' favourite following his move to the
Light Blues in 1999 under then boss Dick Advocaat.
But, after a blistering start his Ibrox career with 13 goals in the opening
four months with the club, he suffered a serious cruciate knee injury in the
Champions League tie at Bayern Munich.
Mols failed to return to the heights of his opening spell with the club.
But, during last season's treble triumph, the 32-year-old weighed in with 14
News of Mols brings to an end the stream of players departing the Treble winners, a fact that had raised concerns among the club's supporters.
Fellow veterans Claudio Caniggia and Arthur Numan have already left the club, with Lorenzo Amoruso, Bert Konterman and Mikel Arteta all expected to depart.
Numan has claimed that he was asked to take a £10,000-per-week wage cut by the club desperate to reduce its debt burden.
But the Sunday Mail has now quoted a Rangers source suggesting that the Dutch defender could have earned £16,000-per-week, similar to his current deal, but turned it down because this time his pay would have been linked to his number of appearances.
Meanwhile, manager Alex McLeish's rebuilding will continue later this week, with Porto forward Nuno Capucho due to arrive in Glasgow for signing talks.
Rangers chairman John McClelland also dismissed renewed speculation that Scotland midfielder Barry Ferguson would be heading for the English Premiership, with new Aston Villa boss David O'Leary said to be an admirer.
"Barry is the cornerstone of our team as well as being our captain," said McClelland.
"He is simply not for sale and is fully committed to a long career at Rangers Football Club."