Hearts goalkeeper Steve Banks has penned a new contract.

Banks has ended speculation about a possible move from Hearts to Rangers by signing a new two-and-a-half-year contract as the Tynecastle club's full-time goalkeeping coach.

Rangers had identified Banks as the goalkeeper they wanted to provide cover for Allan McGregor at Ibrox, but the 36-year-old yesterday committed his future to Hearts in a deal which will give him an opportunity to move into a permanent coaching role once his playing days are over.

"I am delighted to have extended my deal with Hearts," said Banks. "I believe that the club has a bright future and we are all working hard to deliver the success that everyone associated with Hearts wants."

Caretaker manager Stevie Frail said: "It's great news for Hearts. When other clubs want you and you pledge your future to Hearts, it gives everyone a boost. I am really pleased that he has decided to stay with Hearts. It is fantastic for everyone connected with the club."