RANGERS boss Alex McLeish last night admitted he's resigned to losing Blackburn target Barry Ferguson.

Rovers had a firm enquiry for the Scotland skipper rebuffed earlier this week.

But McLeish has hinted he may be powerless to prevent his star-man from leaving after Ferguson has indicated he wants a new challenge and yesterday he turned down the offer of a new contract.

"There have been no firm offers for Barry Ferguson and I don't think he has handed in a transfer request, as such," said McLeish.

"But you would need to clear that up with him.

"I obviously don't want Barry to go. He has a five-year contract and I would like to see him honour that.

"But every player has their price. Over the years it maybe comes into their minds that they would maybe like to try another league, that can happen.

"However, there has been only one enquiry, and there has been nothing else.

"There are no guarantees in football, and at the moment it is hypothetical, and I really want to focus on our game at Aberdeen."

McLeish has already started to feel the pinch of Rangers' financial plight after losing five key players over the summer.

To lose Ferguson as well would be another devastating body-blow just a week into the new season.

However, that now looks a very real possibility, especially as Rangers are in danger of failing to qualify for the next stage of the Champions League.

"Barry is one of the top midfielders in Britain, I think that was illustrated last season when he was colossal," said McLeish.

"Losing him? It would be like Celtic losing Henrik Larsson."

Ferguson -- who would cost around £8 million -- is thought to have become disillusioned by the annual two-way title tussle with arch-rivals Celtic.

A source close to the player, who is under contract until 2007 and earns more

than £30,000-a-week, said last night: "Barry has won two trebles and a double in

Scotland in the past five years.

"He loves Rangers, and being captain is a massive honour for him after being at the club since he was a kid.

"But he is disillusioned with Scottish football and feels he needs a new challenge.

"He knows money talks, and if a huge bid comes in - and Rangers don't have Champions League cash - they may be forced to accept.

"Barry's also very disappointed with the sale of Lorenzo Amoruso, Arthur Numan and Neil McCann. And he feels Rangers have not brought in enough replacements.

"He signed a new contract to safeguard Rangers and to make sure they would get big money for him.

"But he is unhappy at having such a burden when it comes to the team. Is he expected to carry them again?"