RANGERS today boosted their signing war chest by selling misfit Swedish stopper Karl Svensson to French club Caen for £700,000.

Svensson cost £600,000 from Gothenburg. He had two years on a deal worth £10,000-a-week, cash Walter Smith will now use to finance signings.

US winger DaMarcus Beasley arrived today to complete his £700,000 switch from PSV. Smith still is hoping to sign Lee McCulloch, Carlos Cuellar, and Julien Faubert, while Kilmarnock have rejected a second offer for Steven Naismith.

The Rangers squad returned to training today, and among them were new boys Jean-Claude Darcheville, Alan Gow, Kirk Broadfoot, and keeper Graham Smith, signed from Killie.

Chief executive Martin Bain is preparing a bid for £4.5m-rated right midfielder Faubert. He trained with Bordeaux today as they conceded they will not stand in his way - for a price.

At a press conference for new Bordeaux coach Laurent Blanc, president Jean-Louis Triaud confirmed Faubert, 23, wants to join Rangers.

It is believed the player's personal terms are well down the road to being agreed with the Ibrox club, who will now have to satisfy Bordeaux.

"We now have papers making Rangers' interest known, but if they want to sign the player then they have to make an acceptable bid," said Triaud. "I'm not saying he will cost Rangers as much as Didier Drogba or Michael Essien, but in terms of importance he's valued as much.

"Julien has told us he wants to sign for them. We are not OK with that. He has a long-term contract and it should be respected.

"We are aware how the modern game works, but we will need to be satisfied. We have interest from Italy and Spain, but if he wants to go, and to Rangers, we must get the price."

Beasley will have a medical to complete his move. He is then likely to be given a fortnight off after his Gold Cup efforts, and will meet the squad for the July 12 trip to Germany.

Wigan today said talks were progressing over the £2m move for McCulloch. And defender Andy Webster is set to agree a six-month loan to January, allowing the red tape over his £650,000 Hearts compensation to be sorted out. He reported to Murray Park today for pre-season training.

"Rangers have increased their bid for Lee McCulloch and the clubs are in discussions over that, and the Andy Webster situation," said a Wigan spokesman.

Killie knocked back the latest offer for Naismith. It remains to be seen if Rangers will go back in.

Killie manager Jim Jefferies said: "Rangers have made an improved offer, but it was still not near our valuation.

"There has been talk of more than £1m with add-ons, but it was not in that area. It was an increase but not substantial enough. It was also structured with half up front and half in a year's time.

"It's up to Rangers what happens next. We have always said that unless we receive a bid we consider acceptable then Steven will stay.

"If the right money is put forward, then it will be up to Steven what he does."