Kevin Thelwell raised more than a few eyebrows when the details of the deal to bring Youssef Chermiti to Glasgow Rangers on a permanent deal from Everton emerged.
Sky Sports reported that the Portuguese striker has joined the club for an initial fee of £8m from the Premier League side, with a further £2m in possible add-ons on top of that.
This means that Chermiti is the most expensive signing the Scottish Premiership giants have made since they paid £12m to sign Tore Andre Flo from Chelsea 25 years ago.
Why Chermiti represents a big risk for Rangers
It is fair to say that Thelwell is taking a big risk by splashing such a huge sum of money on the striker for Rangers, just two years after he signed the same player for Everton for a deal worth up to £15m.
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Youssef Chermiti in action for Everton.
The 21-year-old centre-forward failed to deliver a single competitive goal in two seasons with the Toffees, playing 24 matches in that time, and only scored three goals in 22 games for Sporting in his home country, per Sofascore.
This means that Chermiti has only scored three goals in his senior career by the age of 21. That is not a record that suggests that Rangers are going to get heaps of goals out of him straight away, which you would hope for from the money that they have spent on him.
A minimum fee of £8m is, therefore, a risky move by the club because of his unimpressive record, particularly when you consider that Nicolas Raskin is worth a similar amount.
Rangers have hit the jackpot with Nicolas Raskin
The Gers signed the Belgian central midfielder from Standard Liege for a fee of just under £1.5m at the start of 2023, and he has established himself as a star, winning the club's Player of the Season award last season.
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Raskin was left out of the squad to face Celtic on Sunday in the Scottish Premiership, but he remained at Ibrox past the summer transfer window and is expected to hold talks with Russell Martin to clear the air and reintegrate him into the squad.
There is no doubting the quality that he provides the team on the pitch after his impressive performances last season. He racked up five goals and 11 assists in all competitions, per Sofascore, on his way to winning the Player of the Season award.
His market value has soared beyond the initial fee of £8m that the club have paid for Chermiti to reflect his impressive showings in Glasgow in recent seasons.
|Nicolas Raskin's soaring market value|
|Date|Market value|
|---|
|January 2023|£1.5m move to Rangers|
|June 2023|£6.5m|
|December 2024|£6.9m|
|March 2024|£6.5m|
|May 2024|£5.6m|
|June 2025|£8.7m|
|Valuations via Transfermarkt|
As you can see in the table above, Raskin is currently valued at £8.7m by Transfermarkt, which is more than the fee that has been paid for the Portuguese striker and significantly more than the rough fee of £1.5m that was paid to Standard Liege for the Belgian talent.
Rangers' Leon Balogun, James Tavernier and Nicolas Raskin celebrate after the match
Rangers' Leon Balogun, James Tavernier and Nicolas Raskin celebrate after the match
This shows that the midfield star, who was once described as a "pitbull" by reporter Bob Faesen, has developed and progressed brilliantly since his move to Ibrox over two years ago.
Rangers have hit the jackpot with the Belgium international, who is now one of their most valued assets, and they will be hoping that he can kick on and be a key player again after his upcoming talks with Martin.