CONFIRMED: Chelsea sign Rangers starlet Billy Gilmour in deal worth £500,000

Chelsea have agreed a deal to sign Rangers wonderkid Billy Gilmour. 

The 15-year-old midfielder is rated as one of Scotland's brightest talents and has been closely monitored by clubs from across Europe.

But he has opted to join the Premier League leaders in a deal understood to be worth around £500,000.

Gilmour will officially sign for Chelsea on June 11, the day he turns 16.

A statement from Rangers read: "We can confirm that agreement has been reached for our under-16 player Billy Gilmour to join Chelsea in the summer.

"The club’s preference would have been for Billy to stay at Rangers but when he made clear his desire to move to the Premier League it was important that we maximised the commercial value for him. We believe we have done this.

";The agreement will provide Rangers with a significant sum for a young player who has yet to play first-team football, and further significant amounts could be due based on milestones being reached.

"We are pleased with this outcome and believe this deal represents good value for Rangers."