Valuation causing Phillips deadlock, says agent

Rangers will not make any immediate move for Sunderland striker Kevin Phillips unless the Wearsiders drop the asking price for the player.

The 29-year-old has been linked with a transfer to the Ibrox club with the Black Cats looking to ease the cash restrictions.

The England international has already expressed an interest in a possible move to Scotland.

However, the First Division club value Phillips at around £3.5m (€5m) with a burning need to unburden financial problems at the club.

The Light Blues are also trying to reduce a cumbersome debt, which stood at £52m (€74m) last September.

But Phillips’ agent, Jon Smith, insists the impasse obstructing any deal will not be resolved immediately.

Smith told the Press Association: “There is nothing in the wind at all. (Rangers honorary chairman) David Murray and I talk a lot and that is not to say nothing will ever happen.

“But there is nothing happening at all at the moment.

“They do like him up there (at Rangers) but the problem is the money Sunderland want for him.

“The only way it might happen is if Sunderland come down with their expectation which then might reach Rangers’ valuation.”

Portsmouth manager Harry Redknapp has already dropped out of the race for the forward due to the finance involved in any possible deal.

He said: “I’d love Kevin Phillips but I couldn’t afford him. I just think he’s beyond us.”

The Black Cats are due in Scotland next week for a tour of the country which will include friendlies against Hibernian, Hearts and Kilmarnock.

Phillips missed the midweek win at York with an ankle injury but Sunderland boss Mick McCarthy recognises he must offload the high-earning striker to begin his rebuilding at the relegated club.

Middlesbrough are also believed to be an interested party in the player with a stay in the north-east a possible enticement for the former Watford man.

Phillips became a fans’ hero at the Stadium of Light following his move from Vicarage Road in 1997.

He has become the club’s most prolific forward since the Second World War, surpassing the goalscoring record of the legendary Len Shackleton last season.

Phillips won his first England cap against Hungary in April 1999.

He moved into non-league football with Baldock Town after being rejected by Southampton and was handed another chance in the professional game by the Hornets in 1994.