The legendary Manchester United manager was at St Johnstone at the time and was struggling to break into the first team.
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The Nigerian is amongst the most talented player at the club and despite a run of good form from the side, his absence will surely have been felt by teammates.
The midfielder enjoyed an encouraging debut campaign at Ibrox last term and netted nine times – including a stunning solo strike against Braga – for the Light Blues.
Iwelumo has made 14 appearances this season, scoring two goals and his new manager, Tommy Wright, hopes the 35-year-old can help keep St. Johnstone in the top six before the league splits in April