Conor Coady’s proposed loan move to Charlton Athletic may not directly involve Rangers this window, but it does offer a revealing footnote to a transfer pursuit that once carried significant weight at Ibrox.
According to journalist Pete O’Rourke, Charlton have agreed a deal to take the Wrexham defender on loan. The move comes less than a year after Rangers were heavily linked with the former England international during the summer, when he was still at Leicester City and viewed as a potential defensive leader in Glasgow.
At that time, Rangers recruitment structure looked very different. Former head coach Russell Martin and sporting director Kevin Thelwell were both understood to be strong advocates of a move for Coady. His experience, leadership profile and comfort in possession were seen as traits that could anchor a back line undergoing transition.
The pursuit, however, proved protracted and ultimately unsuccessful. Coady instead opted to join Wrexham, the Hollywood-backed club fronted by Ryan Reynolds and Rob McElhenney, in a move that underlined both the project appeal at the Welsh side and Rangers difficulty in closing out the deal.
Fast forward to the present, and the context at Ibrox has shifted considerably. Martin and Thelwell are no longer in place, and the defensive picture has evolved under Danny Rohl.
One of the most significant developments has been the emergence of Emmanuel Fernandez, whose performances have reduced the urgency around adding another centre-back in January.
Fernandez’s progress has altered the risk-reward calculation. Rather than seeking a short-term, high-experience addition, Rangers are now more comfortable with their internal options, particularly with squad balance and minutes distribution in mind. That change in emphasis helps explain why interest in Coady did not reignite during the winter window.
A player once targeted as a cornerstone signing for Rangers is now heading the Addicks on loan, while the Ibrox club move forward with a different defensive structure and hierarchy.
It also reflects the broader theme of Rangers January approach: selective, role-specific and aligned with current needs rather than past plans. With focus trained more on adding a centre-forward and an experienced number six, defensive recruitment has slipped down the priority list.
Coady may still offer value at his new destination, but for Rangers, that chapter belongs to a previous regime. The present direction lies elsewhere.
