Rangers 'closing in' on new deal for talented youngster despite transfer interest from Arsenal and MLS

Rangers are close to signing starlet Alexander Smith on a new contract despite interest in him, according to a report.

The attacking midfielder was linked with Arsenal earlier this year and has also been monitored by other Premier League clubs as well as some MLS outfits. Despite that, Gers are "closing in" on a new deal for the 16-year-old although there is still some way to go, according to the Athletic.

The highly-rated left footer is a Scotland/United States dual national and is capped for both nations at youth level. He has reportedly been tracked by the Gunners for some time and they were said to be ready to offer a six-figure compensation fee in the summer to take him south.

But the Light Blues now look set to tie Smith down by giving him his first professional contract.

The interested clubs are said to be still pushing though so the Ibrox side could face a fight to keep their man.