Rangers agree fee for Matt McKay with South Korean club Busan I'Park

Rangers have confirmed that they've agreed a fee with South Korean club Busan I'Park for midfielder Matt McKay.

However, negotiations on the player's deal transfer are still continuing.

The Australia international joined Rangers from Brisbane Roar last summer but struggled to find a place in Ally McCoist's plans.

He made just two competitive starts for Rangers - against Dundee United and St Johnstone - and made one appearance from the bench, also against United.

The Ibrox club's administrators admitted last Tuesday that a review of playing staff would be necessary due to the club's financial problems, but no lay-offs would be confirmed until later this week.

McKay, 29, had a brief spell in South Korea in 2006 when he joined Incheon United on loan during the Australian close season.