Wallace has refused to join the band of players refusing to sign-up for the new co.
Wallace is determined to be a key player for Rangers next season.
The 24-year-old told his club’s official website: “My personal decision in no way condemns or judges those made by my fellow professionals as I believe each person has different circumstances and reasons which will determine the road they choose to travel at this particular time.
“I respect the decision taken by each individual player.”
Wallace told his club’s official website: “When I arrived at Ibrox the support from the club, players and fans was fantastic.
“The fans showed great faith in us all during tough times and I still feel I have more to show them during the remainder of my contract.
“My partner is expecting our first baby soon and my priority is to my family.
“This gives me the incentive to improve my performance and ultimately win trophies.”
