Walter Smith expects Rangers to consider making an attempt to bring Kris Boyd back to Ibrox and potentially offer him the opportunity to resurrect his career.
The former Light Blues striker has terminated his contract with Turkish side Eskisehirspor following a dispute over unpaid wages. The 28-year-old quit Rangers for Middlesbrough in 2010 following a successful spell with the Scottish champions which saw him leave as the Clydesdale Bank Premier League's all-time top goalscorer.
On a potential return, former boss Smith said: "I'm sure if he is available he will come into their thoughts. He scored an awful lot of goals for Rangers and was a good player for Rangers over the years."
He added: "He left because he was offered a better deal in England at the time and then again in Turkey.
"From a Rangers point of view he would be an obvious one to have a look at."
Meanwhile, Smith believes Rangers must reinvest any cash for Nikica Jelavic straight back into the squad if the player moves on in January.
The Croatian striker was the subject of a failed £6.5million bid from Leicester in August and has been linked with Liverpool.
Smith, who left Ibrox in the summer, said: "If Rangers did lose him, as long as the majority of the money went back towards getting someone of a very similar standard, then you would say they could come back from that.
"I think the preference would be to keep Jelavic. That would help greatly in terms of Rangers' opportunities to retain the championship."