APOEL president Prodromos Petrides revealed the transfer fee to land Rangers target Jefte is 'not prohibitive' after being thwarted from signing him themselves because of a FIFA embargo.

The Ibrox side appears to be closing in on a deal to land the Brazilian full-back who is on loan at the Cypriot club from Rio de Janeiro side Fluminense.

Rangers would have to deal with both clubs to sign the 20-year-old and APOEL wanted to turn the loan move into a permanent one this month.

But they were one of 11 Cypriot clubs hit with a transfer embargo from world football's governing body last month because of debts and are unable to sign players until they can prove their debts have been cleared.

And Rangers have moved to take advantage of the club's problems and tempted Jefte to move to Scotland instead.

APOEL chief Petrides revealed last month the transfer fee is not too high, with reports from the Mediterranean island stating it could be as low as £400,000.

Petrides said: "The amount to buy Jefte is not prohibitive, but it can't be done at the moment because of the embargo restrictions we have now.

"We want to make sure he stays until the summer and hopefully buy him then.

"The club would love to sign him permanently."

READ MORE: Who is Jefte? Rangers' latest inbound transfer assessed

Meanwhile, Rangers midfielder Jose Cifuentes is set to leave club after the Ibrox side accepted a bid from Turkish team Rizespor.

The Ecuador international joined the Ibrox side in the summer for a fee of £1.2 million from Los Angeles FC but has struggled to make an impact in Scotland.

And it is understood that Philippe Clement's men have agreed to a loan deal, with Rizespor having the option to buy him for a fee of around £2million in the summer.