t is believed that the Scottish champions have offered about £300,000 for the 23-year-old, who is entering the final year of his contract.

And an Ibrox source confirmed he is a player in which they are interested.

But the Edinburgh club are expected to reject the approach and would be looking for a much higher fee to part with last season's vice-captain.

Wallace, who has been capped five times for Scotland, came through the youth ranks at Tynecastle and has since made 140 appearances.

However, he made only 10 of those in an injury-hit last season with the Scottish Premier League club despite having been made deputy to captain Marius Zaliukas by manager Jim Jefferies.

Wallace suffered a cruciate knee ligament injury playing for Scotland against Liechtenstein in September and has only played seven times since returning to action in January.

Hearts have already signed Danny Grainger after the left-back left SPL rivals St Johnstone.

If we can get him for less than 1 mil go for it!

would be delighted to pay £300K for him but think thats taking the p155 - £750K is about fair

I reckon Romanov will play hardball here. Probably need pay 1 million for him.
he's worth it IMO if he can stay fit, and would also push Papac for a start.

Getting Bartley and Cuellar on top of this would be great.

Wallace suffered a cruciate knee ligament injury playing for Scotland against Liechtenstein in September and has only played seven times since returning to action in January.
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Ugh! dont like the sound of that, that's cost us dear often in the past.

theres no way we will pay 1 million for a player in the last year of his contract.

mad vlad will be wanting at least £1million i reckon he's probably worth it in all honesty, any higher and id say look elsewhere, LB is not a position we are in dire need to fill we still have papac.
£300k though, have to say that is a pretty derisory offer, im all for saving money but id say a starting offer of £500k would have been more reasonable.

With Hearts recent spending spree, I doubt selling Lee Wallace to Rangers for such a low amount would appeal to them. He may be in the last year of his contract but I think they would prefer to get one last year out of him.

theres no way we will pay 1 million for a player in the last year of his contract

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Bougherra
Whittaker
Davis...How mucho, Meheecanno

I'd offer £500k max. He's in his last year and has had injury problems. No point shelling out any more for him.

If Hearts won't accept that then get him on a pre-contract in January.

IMO he is as good as if not better than Papac (getting forward anyway) when fit and we could use the competition.

Good shout db

I can see mad vlad taking 500k for him considering he's only a year to go and could sign a pre contract in January.. Makes sense, especially if they've already signed a replacement. Good wee player IMO if he can stay fit.