Mystery over Sevco turning down Wallace bid
The news seems very similar to the £10m bid for Nikica Jelavic turned down by Craig Whyte in August 2011 although no club was ever identified as making a bid.
With fears that the new club will be unable to meet the February wage bill drastic action is required after the players rejected a conceptional discussion to reduce their wages by 15%.
Whether there is any genuine interest in Wallace remains open to debate but what seems certain is that there is virtually no interest in any other players at Ibrox with clubs unwilling to match the terms that the players are currently on.
Former Rangers midfielder Billy Davies in in charge of Forest and any move for Wallace would follow the pattern of the old club who relied heavily on former employees, and EBT benefactors such as Alex McLeish and Graeme Souness, to buy players.
Earlier this season James Beattie took Kai Naismith from Sevco but the Accrington Stanley boss has been unimpressed by the midfielder since he arrived at the Livingstone Road Stadium and is unlikely to swoop for any more wonder-kids from Murray Park.
The need to sell Wallace has been highlighted by chief executive Graham Wallace’s 120 review of the club with the benefits twofold in that an injection of cash is badly needed alongside a reduction in the wage bill.
Selling the former Hearts full-back would be a bitter blow for Ally McCoist but after adding Steven Smith, Dick Forster, Steve Simonsen and Arnold Peralta to the wage bill in the summer for no return the £825,000-a-year Ibrox boss can have little to complain about.
Former chief executive Charles Green had promised McCoist a £30m transfer warchest for this transfer window but the manager’s plea for two new strikers has gone unanswered.
All the signs are that the new club will follow the old club into administration, in January 2012 Jelavic was sold to Everton for a reported £5m fee- five months after the mysterious £10m bid was rejected.