But he didn't settle at Ewood Park and he struggled to make any impression in England and was quick to return to Glasgow.
However the rumours seem well wide of the mark. Although Ferguson has only made eight starts for Rangers this season, it is unlikely he will want another return to England.
And Mike Ashley does not want "gig earners" in the transfer window, insisting Kinnear starts picking up "gems" from the lower leagues.
Rangers are resigned to losing Bougherra, but it is believed that Marseille will follow up their initial enquiry and make an offer.