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A 12-month contract extension is on the table for the Spanish striker, 28, who has been warned by boss Walter Smith that first team football would not be guaranteed.

Seeking a long-term deal: Nacho Novo

"If it was down to me I would stay here until my career is over but it's not," said Novo.

"I love Rangers but I cannot sign for a year when my contract finishes at the end of the season.

"Next year I would be in the same situation again and I don't deserve that.

"If I was 35 then I would say yes to a one-year deal but I'm 28 and my fitness is good.

"The club are great with me and I've said that to my agent. It's frustrating.

"If I stay I'll be happy and if I don't at least I will have fantastic memories."