By Alex Stevens

Lee Wallace has signed a new three-year Rangers contract, the club announced on Monday evening.

The Scottish giants confirmed that negotiations have been finalised to secure the Ibrox captain to an extended contract that runs until the summer of 2019.

Wallace had 12 months to run on his current deal and would have been free to talk to other clubs in January if he did not agree terms with Rangers.

But the Glasgow club announced via their official Twitter account on Monday that an agreement was in place.

Manager Mark Warburton made it clear to club chiefs that he regarded tying Wallace down to a new agreement as a priority following his fine season leading the club back to the Scottish top flight.

Wallace has become a key player for the Light Blues and a huge fans’ favourite since joining from Hearts in 2011.

He made 50 appearances in the recently completed domestic season and was a key attacking player from his ostensibly defensive position, scoring an impressive nine goals and supplying 13 assists from left-back.

Wallace won the PFA Scotland Championship player of the year and a double of Player of the Year and John Greig award at the Rangers Player of the Year awards as he led the Gers to the 2015-16 Championship title.

In other Rangers news, the club have launched a bid to sign a 27-year-old new goalkeeper as they aim to recruit an experienced back-up to number one Wes Foderingham.