Saints have been on the trail of the former Manchester United youngster for a few weeks now, and made a bid of around £25,000 plus £15,000 in the future for his services. It was quickly rejected, as was Caley Thistle's recent offer of £50,000.
It seems that County are wanting at least £100,000 for the player, which is fair enough considering his form this season and the fact that he has 18 months of his contract left. Saints can't afford anywhere near that, and if they did would probably buy a few players rather than one. It had been hoped that County's recent financial troubles would force them to sell, however today they sold Martin Canning to second division Gretna for a reasonable sum.
With the Rankin deal looking like a non starter, it is unlikely that Saints will make any further signings before the transfer window shuts next week.