The Nigerian winger was close to joining the reigning champions when former club Aberdeen insisted they were due compensation of around £200,000 and with the Ibrox club's current financial woes, it seemed as though a deal would fall over.
But Aluko and his family and friends stepped in to pay an initial compensation fee of £50,000 so he could get a dream move to 'Gers. Aluko will then have to fork a further £150,000 in monthly instalments straight from his Rangers salary and although the 22-year old former Birmingham City man admitted it was a risk, he said it was one he is willing to take.
"I don't have millions in the bank. Looking at it that way, this is a big risk," he said.
"I've literally put my whole career on one decision. If it goes wrong, it goes very wrong.
"Equally, if it goes right, then it pays off.
"I'm fortunate the people around me, my friends and family, believe in me.
"The people who are representing me have also been fantastic. But this is a decision I have made.
"I wouldn't have done this for just any club. I'm doing it for a massive, massive club, one with great tradition and an unbelievable fan base.
"But added to that, the way the people at the club have treated me convinced me this was the right thing to do.
"The staff and players made me feel like this is where I wanted to be.
"That's why I was willing to sacrifice a lot to make it happen and make it work."