According to Sky Sports, the obligation will be triggered if the 20-year-old Serbian reaches a certain number of appearances in a Rangers shirt, with reports in Britain putting the figure at around £4 million.
Aston Villa signed Nedeljković from Red Star Belgrade in January 2024, immediately sending him back to the Serbian club on loan for the remainder of that season. He went on to make ten appearances in Villa colours before moving to RB Leipzig on loan in early 2025, a spell that was later extended to cover the following season as well.
Nedeljković's route into the first team at Villa Park has been blocked largely by limited opportunities under Unai Emery, who has continued to prioritise Matty Cash and Ezri Konsa in the full-back positions.
His pace and attacking instincts have nonetheless made him an appealing target elsewhere, with Rangers manager Derek McInnes understood to have played a personal role in convincing the defender to make the move north, having identified a need for a more attack-minded option at right-back.
Rangers have made a difficult start to the season, taking just one point from their opening two matches, and the club has been active in the market as it looks to reshape the squad under McInnes.
Nedeljković would become the latest arrival in what has already been a busy summer of incomings at Ibrox, offering a different profile to Dujon Sterling and summer signing Ross McCrorie, both viewed as more defensively oriented options in the same position.
Nedeljković's stock has fluctuated since his move to Villa, having initially arrived with plenty of promise following his development at Red Star Belgrade. His time in Germany yielded limited game time, with just five Bundesliga appearances across his most recent loan spell, leaving him in need of a fresh environment to rebuild momentum in his career.
A regular run of games at Rangers, even outside the Premier League, could prove valuable for a player who has continued to be capped by Serbia at senior level throughout his loan spells, underlining the level his talent is still regarded at despite the stop-start nature of his career since leaving Belgrade.