Watch Chelsea's New signing Billy Gilmour show his talent

Chelsea Sign Talented Midfielder

Rangers have announced that Chelsea have signed their 15-year-old wonderkid Billy Gilmour for an initial fee of over £600,000.

The Premier League club have beaten a large number of clubs including Manchester City to secure the player, with Gilmour having spent the past week at Cobham Training Centre finalising legal arrangements

Confirming that Gilmour would move to Chelsea, a statement on Rangers' official website read: "Rangers 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.

"That he was sought after by many Premiership clubs, and indeed a number of the largest clubs in Europe, further demonstrates the quality of player now being produced by the Academy. Everyone at Rangers wishes Billy well for his future."