Liverpool target Barry Ferguson has turned his back on a multi-million pound move to Anfield by deciding to remain at Rangers.
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The snub by Ferguson forced Houllier to turn his attentions elsewhere - as has been well documented over the last couple of days.
Speaking to confirm his plans for the future, the Rangers captain said: "I am pleased to remain a Rangers player and captain and look forward to the challenges that lie ahead.
"I am flattered by the interest shown by other clubs but following today's discussions, taking all factors into consideration, I am delighted with the outcome."