The 28-year-old midfielder joined the Scottish giants in August after he captained the Brisbane Roar to the A-League title in 2010-11.

But he has made just three appearances for Rangers since signing, with his last coming on November 20 against St. Johnstone.

He has been an unused substitute on another five occasions but failed to make the bench for a Scottish Cup tie at Arbroath on Sunday.

A chance for first-team football popped up with Al Ittihad, with the Saudi giants keen to sign McKay on loan until the end of the season with the option of buying him.

McKay does not want a loan move anywhere though, according to his agent John Viola.
"Matt is not interested in going out on loan," Viola told the Daily Express in Scotland.

"He wants to stay and fight for his place at Rangers. He hasn't had as many games as he would have liked but he is prepared to stay and fight to get into the team.

"He believes he can make his mark and he also knows that if can get into the Rangers team then it would strengthen his case when it comes to the Australian World Cup squad."

McKay played and scored in a 4-1 friendly win for Rangers against Kilmarnock on Tuesday.