Smith was born in Scotland but holds dual citizenship, representing the USA at under-15 level before switching to play for the under-16s of his country of birth.
Rangers would love to hold on to him, but the opportunity to join Arsenal and potentially play Premier League football in some years from now could be too tempting for the youngster to turn down.
The Gunners could look to prioritise signing youngsters this summer, and Scotland is now a big market for them as a result of their inability to sign players under 18 years of age elsewhere due to Brexit.At the East Mallorca Cup in Spain in April of last year, Smith made an impression for the Rangers youth squad by winning four Man of the Match honours in five games, including one victory over their Liverpool counterparts.
Arsenal is aiming to finalise a deal because they believe he has the ability to become a Premier League star very soon.
In addition to Aberdeen defender Lewis Carrol, they also want to strengthen their young ranks because doing so might save them millions of dollars down the road.
Prior to the summer transfer window, the Gunners and Chelsea are leading the fight for the 15-year-old, and in the upcoming days, weeks, and months, additional Scottish players may be sought.
signing young players who haven’t yet joined the first team