Rangers have confirmed that they are in the 'early talks' with Corinthians over a swap agreement for youth players.

The two sides have discussed a potential deal which would see players from either side play a number of games for the other club.

Both teams could also face each other in friendly matches as part of the agreement.

"We are both the biggest clubs in our respective countries and we had some broad discussions. We both have big ambitions and we had a lot to discuss," chief operating officer Ali Russell told the club's official website.

"Overall, we felt there was quite a lot we could do to develop their business and from a football side there may be opportunities for youth players to come to Glasgow and vice versa.

"There is also the potential that we could set up friendly games either in Sao Paolo or in Glasgow. We had a very healthy meeting but our discussions are still in the early stages."

It was also confirmed on Wednesday evening that club owner Craig Whyte was being investigated by the Scottish Football Association over his past business practises.