Wallace bid well below valuation

Last updated : 23 June 2011 By TwoTonTed

Lee Wallace IHearts have dismissed Rangers' initial offer for Scotland defender Lee Wallace and labelled the bid as "derisory". The bid is reported to have been £300,000 for the 23-year-old, a fee described as "well, well short" of the player's value by Jim Jefferies. Wallace has just 12 months on his contract but Jefferies has not given up hope of keeping him at Tynecastle.
 
The manager said: "I don't know the exact figures involved but I do know our people regard the offer Rangers made as derisory. Let's just say it's well, well short of the value we would place on an international like Lee. He is an outstanding player. We know he's in the final year of his contract and we hope to extend it but that will be up to the player to decide. Lee was very unlucky with injury last season but he's fit again and started pre-season training today. I know when bids are made for players you have to take their contractual situation into account but even so, Rangers' offer was miles short of what is acceptable."