Mouth of the South
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If he goes to Rangers I just can't see this being the case, their wage bill last reported year was £29.5m ours for the same period £37.6m (was the season we got promoted but I'd expect a similar amount in successive years) either he was really under valued here or is over valued there.
Without any knowledge on specifics, I would strongly suspect it to be the former. Unlike every other player whose contract was within 2 years of expiring, Lundstram didn't sign a new contract in the Prem. He will have received an uplift due to promotion from the Champ, but essentially he'll be on Champ wages