Wallace on his way to Ibrox for £1.5m

Lee Wallace is close to a move from Hearts to Rangers after a fee of £1.5m was agreed between the two clubs.

The Scottish Premier League champions had their third bid for the Scotland international left-back accepted, after the Tynecastle club rejected bids of £300,000 and £1m. Wallace, 23, is a product of the Hearts' youth system, and he made his debut there in 2004/05. He has five caps for the Scotland senior side.

If Wallace passes his medical, he could face his former club in the SPL season-opener at Ibrox tomorrow at 12.30pm.

Rangers are also in talks with Swedish club Orebro's American midfielder Alejandro Bedoya.