Rangers are expecting a calm January transfer window under Derek McInnes, with both the manager and chairman Andrew Cavenagh signalling that significant business is not expected, though TEAMtalk can confirm one player under serious consideration.

After spending around £35.5million in the summer and following a busy previous January, the American-owned club has prioritised stability as it looks to challenge for the Scottish Premiership title.

McInnes has been clear that the squad is in good shape. He has highlighted the impending returns of Lawrence Shankland, Daisuke Yokota and Cammy Devlin from injury, describing those comebacks as the equivalent of three new signings.

The Rangers manager’s conversations with Cavenagh and chief executive Jim Gillespie had focused on keeping the group together and avoiding disruption.

Sources close to the club have reinforced that the default position is only to act if major holes appear through injury, a sharp drop in form, or forced sales. However, opportune transfers and deals they can’t resist will always be possible.

One name still circulating from sources is Swedish winger Oskar Fallenius of Djurgarden. The 24-year-old was a summer target, and his contract expires at the end of December, raising the possibility of a free or cut-price switch to Ibrox.

Sources indicate Rangers are monitoring the situation and may revisit interest, viewing him as a cost-effective option to add attacking depth without heavy outlay.

Fallenius has been productive in the Allsvenskan, and has previously been open to a move to Rangers.

McInnes determined to keep key Rangers pair in Janaury

Elsewhere, the focus for Rangers is more on retention than recruitment.

Defender Olwethu Makhanya, signed for £3million from Philadelphia Union, has drawn attention from Premier League sides including Brentford and Sunderland, as well as clubs in Italy and Spain.

Nico Raskin also has significant higher-level interest, with top LaLiga side Real Betis viewing the Belgian international as a top target.

Rangers are understood to be determined to keep key players, but any substantial sale would force them into the market for a replacement.

Overall, the message from Ibrox is one of measured caution.

After successive heavy windows, the club appears content to rely on the players already in the building, with any January activity likely to be reactive rather than proactive.

Situations can change quickly, however, particularly if results fall off or bids arrive that they cannot refuse.