Schalke monitoring talented Rangers midfielder Bailey RiceAccording to transfer expert Fabrizio Romano, Schalke have already submitted an initial offer for Glasgow Rangers' Bailey Rice.Since his contract is expiring in summer, the 19-year-old would only be liable to cost a miniscule training compensation fee.The Scottish youth international plays in defensive midfield and possesses great potential for development.However, his professional experience is limited at senior club level, given he has only made a total of 16 appearances for Rangers. Furthermore, he was recently sidelined by a serious injury and is still awaiting his return following surgery.Interest in the youngster also exists outside of the Royal Blues, with Ajax Amsterdam are also reportedly keeping an eye on Rice.Rangers would like to keep the midfielder, but an agreement on a contract extension is still pending, according to Romano.For Schalke, signing Rice would primarily be a transfer for the future, so he would likely be seen as a squad player under coach Miron Muslic.