Fulham have told Rangers they will have to increase their offer for midfielder Steven Davis if they want to secure his services for next season.

Davis spent the end of last season on loan at Rangers and impressed Walter Smith during a spell when they were attempting to win trophies in four competitions.

Rangers are believed to have bid £3 million for the Northern Ireland international and do not want to spend more than that.

However, Fulham think the midfielder is worth £4 million and are not prepared to let him leave for anything less.

Following Fulham's 3-1 win over Celtic in a pre-season friendly, Cottagers boss Roy Hodgson explained that his club wanted to recoup the money they spent on him last summer when he joined from Aston Villa for £4 million.

He said: "The last I heard Rangers reiterated their initial offer, which was refused by the club. Players have values. We paid a lot of money for him.

"If he's going to leave us, it will have to be because we've received the correct offer."

Davis was taken to Craven Cottage by previous manager Lawrie Sanchez and featured in most of their games until Sanchez was replaced by Hodgson.

The former Inter Milan coach says he would be happy to have Davis in his squad for next season but admits the player wants to seek first-team football elsewhere.

"He enjoyed his spell at Ibrox and fears he won't break into our midfield," said Hodgson.

"I'll be happy to work with Steve this season but he won't join us on our tour of Korea this week. With this uncertainty about his future it's better he stays at home."

Rangers had hoped to use Daniel Cousin as part of a swap deal but Hodgson says he is no longer interested in the striker.
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