Zura Khizanishvili is a regular with his international side

The 21-year-old has already signed for the Scottish champions as he was out of contract with their Premier League rivals.

Dundee are due compensation because he is under 24 and decided to take the matter to a tribunal despite Rangers increasing their offer by �15,000 to �75,000.

Now they have publicly named their price for the first time, with Dundee chairman Peter Marr telling BBC Sport that he will be looking for "well over �1.5m" for the international regular.

"I don't think that's unreasonable compensation for an exceptional player," he said.

I am very hopeful that the judgement will have the greater interests of Scottish football at its heart Dundee chairman Peter Marr

"When you look at the sums involved in the movement of other Old Firms players - Ulrik Laurrsen from Hibs to Celtic for �1.5m is one example, Arteta with a price tag of �4m or �5m - �1.5m for player of Zura's undoubted quality is modest.

"We know now that this matter will be settled by an SPL tribunal and it won't go anywhere near Uefa, so I am very hopeful that the judgement will have the greater interests of Scottish football at its heart - as well as the need to protect clubs who rear or nurture young talent from the predatory instincts of bigger clubs.

"The compensation scheme is there for very good reasons and I hope for the sake of the majority in Scottish football that this case proves its value and its importance."

Rangers seal Zura transfer

The SPL has yet to set a date for the tribunal.

It had been predicted long before the end of the season that Khizanishvili would be moving to Ibrox, but he did not put pen-to-paper on a three-year deal until Friday afternoon.