Rangers sign Wallace from Hearts

Rangers FC have bolstered their squad ahead of next week's UEFA Champions League third qualifying round opener against Malmö FF by signing defender Lee Wallace from Scottish Premier League rivals Heart of Midlothian FC.

The 23-year-old Scottish international was in the final year of his contract at Tynecastle and had been the subject of two previous unsuccessful bids by Rangers this summer. Wallace missed most of last season after suffering cruciate ligament damage in Scotland's UEFA EURO 2012 qualifier against Liechtenstein in September 2010 and only made nine league appearances for the Edinburgh club last term. Ally McCoist's side have paid a reported €1.7m for the left-back, who has signed a five-year deal.

McCoist said: "Lee is a player that we have admired for a number of seasons. He fits the bill in terms of being left sided and can play a number of positions. He's quick and strong and we're delighted that he's decided to join us."

Meanwhile, the Scottish champions have reached a pre-contract agreement with United States international midfielder Alejandro Bedoya. The 24-year-old will join Rangers from Swedish club Örebro SK in January 2012, subject to receiving a work permit.