Many believe he has already played his last game for the club, who this month suspended him for two weeks without pay for his behaviour while on Scotland duty.
Ferguson, along with Ibrox team-mate Allan McGregor, was banned by the SFA for making gestures from the Hampden bench days after being dropped for indulging in an early-hours drinking session following a defeat in Holland.
Ferguson was also stripped of the Ibrox captaincy, with Rangers manager Walter Smith briefing reporters that both players' careers in Govan were over only to perform a dramatic U-turn once their suspensions had been served.
Smith admitted he was wrong to suggest they would never be picked again but both players were left out against Hibernian at Easter Road on Sunday as the Light Blues wracked up their fourth SPL win in a row with a 3-2 victory to stay one point behind leaders Celtic.
Jardine, who played for Rangers from the 1960s through to the 1980s and now works behind the scenes at the club, insists the squad's strength in depth has come to the fore in the pair's absence.
He said: "It's a blow to Walter because Barry is a very good player.
"That's not for me to say (if Barry will be at Ibrox next season).
"But I don't think that is a factor (that the squad has come together in recent weeks), basically we have got good players.
"We've lost Allan McGregor and Barry for various reasons but we have lost other players through injury like Kenny Miller and that has given others a chance.
"Maurice Edu has come in and done really well, Steven Whittaker and Steven Smith have come back so the players that have come in have performed to a really high level."