It is claimed that Hughes faces a battle to remain in his post, with some members of the Rangers board aware that former Tottenham boss Harry Redknapp is available.
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The Mirror report that Santos have no interest in signing Florent Malouda from Chelsea.
Malouda, out-of-favour at Stamford Bridge and widely tipped to move on in January, has been strongly linked with the Brazilian side.
But the club’s vice-president Odilio Rodrigues has insisted Santos are not lining up a deal.
“There is no interest in Malouda. He is not in our plans,” Rodrigues is quoted as saying.
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