Jim Jefferies left with no choice but to part with Lee Wallace

JIM Jefferies admits Hearts had to accept a bid from Rangers that met their valuation for Lee Wallace, after weighing up offer against the option of retaining one of the club's best players for the forthcoming campaign but losing him for nothing at the end of the season.

After making a couple of unsuccessful bids for the Scotland international, the Ibrox club confirmed yesterday that they had agreed to sign the 23-year-old for 1.5million.

Gorgie manager Jefferies, in Norway last night to see Tromso play Paksi SE - hearts now play Paksi SE in the Europa League third qualifier next week - claimed that after failing to persuade Wallace to extend his contract at Tynecastle, it was a case of cashing in on their asset.

"First and foremost we wanted to sign Lee on a longer-term contract but he said he was ambitious and he had opportunities to leave," he said. "That's the prerogative of players these days.

"So the club had to make a decision on a player that could leave for nothing at the end of the season.

"He gave the club the situation but he said that if the club could get a fee for him then he would have been happy.

"Lee Wallace is a quality player. An English Premier League side and Rangers were in for him and that speaks volumes.

"Rangers were keen on him and money is important to any club. The club have got to get money in for quality, you can't lose it for nothing.

"Lee has been fantastic about it all. There has been a lot of speculation since he returned to pre-season training but he just got on with it and was never at my door.

"So we wish him all the best. He was fantastic for Hearts."

Jefferies is aware that Wallace could be lining up against Hearts in the Clydesdale Bank Premier League opener at Ibrox tomorrow lunchtime.

"That's the life of a football manager," he said. "We knew there was a chance we could lose Lee so we got Danny Grainger in and we have cover in that position."

Earlier yesterday, Jefferies' assistant Billy Brown appeared at the club's pre-match press conference in the manager's absence.

Quizzed about the significance of the club's failure to pay the squad's wages on time this month, Brown insisted there was nothing "sinister" about the late payments of wages or bonuses.

"Wages have been paid," said Brown. "They were a couple of days late, which happens with the structure of the club. There was nothing sinister in it and everyone was quite happy and satisfied. I think the players understand the situation, I don't think there was a great problem. I think it was blown out of proportion and I haven't heard anyone mention it at training this week. I know there has been issues throughout the summer but there is issues at every football club. But Jim Jefferies, (coach] Gary Locke and I are completely focused on what we are doing and it is a minor distraction as far we concerned."

Brown added that the deferment of bonuses was due to a pending appeal to the Scottish Football Association over a disciplinary fine of 100,000.

"The bonus situation is an ongoing thing," he said. "The disciplinary fine is taken out the bonuses, which was agreed at the start of the season. "That fine has been appealed - it was 100,000 - so once that appeal is heard it will be sorted out.

"I don't think it is a great problem, I think it has been magnified out of proportion."Meanwhile, Hearts will heading to Hungary for their opening Europa League clash after Paksi stunned Tromso to reach the third qualifying round, emerging with a 3-0 second leg win following a 1-1 draw in Hungary. All the goals came in the second half with a Tamas Kiss brace sandwiching a strike from Daniel Bode for the visitors.

Hearts travel to Hungary for the first leg next Thursday ahead of the return encounter at Tynecastle on 4 August.

Paksi finished runners-up to Videoton in the Hungarian top-flight last season but triumphed in their domestic League Cup competition.

Karoly Kis' side won their opening league game 3-2 at home to Kecskemeti TE at the weekend and Jefferies is set to dispatch a member of his backroom team to run the rule over Paksi when they travel to the reigning champions on Sunday.

Paksi's European fixtures are being held at Videoton's 14,300 capacity Sostoi stadium as their own ground, which can hold only 4,000, does not meet Uefa regulations.

Hearts' former Hungarian manager Csaba Laszlo has said he is willing provide information on Paski to Jefferies. Speaking recently, he said: "Paksi is a small team here in Hungary. Everybody was surprised that they finished second in the league and qualified for the Europa League. They don't have big names in the team, they are a unit and that is the secret of their success. Until last season they were always fighting relegation, then they finished second and reached Europe."