Rangers have agreed a deal with AEK Athens to sign left-back James Penrice permanently for a fee of £800,000. The Scottish defender joined Rangers on loan from the Greek club this summer, with an option to buy included in the agreement.
Record Sport can reveal that the price negotiated between the two clubs is less than £1 million. Rangers have until next summer to trigger the clause, but Penrice's performance in Sunday's 3-0 victory over Celtic at Ibrox has made it likely that manager Derek McInnes will want to secure the 27-year-old on a permanent basis.
Midfield Role Proves Effective
McInnes deployed Penrice in an unfamiliar midfield role against Celtic, a decision that proved successful. The defender impressed in the hybrid position and played a key part in Rangers' Premier Sports Cup quarter-final win.
Penrice, a boyhood Rangers fan, has already expressed his desire to make the move permanent next year. With the fee set at £800,000 (€1 million), that ambition appears set to become reality for the former Hearts player.
Background and Loan Details
Penrice left Hearts for AEK Athens in 2025 for £2 million and helped the Greek club win the Super League title. McInnes secured his loan signing in August, which cost Rangers a fee of £400,000, with the intention of having him compete with Tuur Rommens for the left-back position.
Rommens' injury opened the door for Penrice, who has quickly become a fans' favourite at Ibrox. If he maintains his form, it is highly likely that Rangers will activate the cut-price option, negotiated by outgoing technical director Dan Purdy, and sign the Scot on a long-term contract.
Penrice on His Future
After his Ibrox debut last month against St Mirren, Penrice was asked about extending his stay at the club and said: "Tuur is obviously injured but I'm coming in to play. I want to keep performing, I want to make the jersey my own and hopefully I can do that."
"Staying here long-term is a conversation for the future but there's obviously an option in the deal, everyone knows that. I've only been in a few days so let me enjoy this one and then in a couple of months we can sort that."
