Rangers have already failed with a £200,000 bid for the Northern Irishman, with the fee falling well short of Hearts’ valuation of the striker.

However, Craig Levein’s side are not in the market for a left-sided defender, having signed Bobby Burns and Ben Garuccio during the summer, while Wallace’s wages could also pose a problem. according to the Express.

Hearts have now knocked back two bids from Rangers for Kyle Lafferty - the latest involving a cash-plus-player deal, with Lee Wallace offered to the Tynecastle side. Pictures: SNS Group

• READ MORE - Kyle Lafferty hopes Rangers up bid but won’t force the issue

Former Ibrox striker Lafferty revealed over the weekend that he has no problem remaining with Hearts if a deal between the two clubs can’t be thrashed out.

Speaking after his goal had handed Hearts a 1-0 win over Celtic at Tynecastle, Lafferty said: “Getting teams like Rangers interested in you, it’s something you have to look at and you know you’re doing something right.

“Hearing teams like Rangers interested in you, you intend to give that little bit extra.

“But it’s up to the two clubs. I owe Hearts and the club the respect to continue giving 110 per cent. If something happens, it happens but it’s out of my hands.

“I am just working hard, playing in games, getting results like today and enjoying football.

“If the clubs agree something, they agree something. If not, then I continue working hard. It’s not going to change my attitude.

“To show that obviously I can play, I can score goals. I will keep on concentrating on myself, doing well for the team and being involved in as many good results as possible.”

Steven Gerrard remained coy when asked if Rangers would be likely to make an improved offer for the 30-year-old ahead of the transfer deadline.

Hearts '˜reject cash plus Lee Wallace deal' from Rangers for Kyle Lafferty