Rankin had been told in the past few months he could leave by manager Craig Brewster, but has come back into the first team picture and has been doing well. This has made Caley Thistle less willing to let him go - with Bennett claiming the offer is well below their valuation of the player.
Reports on Caley Thistle's messageboards suggest Rankin is keen to move to the central belt and has bought a house in the region, indicating he will be leaving the club sooner or later. However, as he's got 18 months left on his contract, chances are Saints will have to at least match the money the Highland side paid for him in 2006 to seal the deal.
Story source: The Press and Journal