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Smith will stay as long as transfer funds are available

SOCCER CHAMPIONS LEAGUE: Rangers v Sevilla: WALTER SMITH will seek assurances over Rangers’ long-term financial position before…

EWAN MURRAY
Tue Sept 29 2009 - 01:00

SOCCER CHAMPIONS LEAGUE: Rangers v Sevilla:WALTER SMITH will seek assurances over Rangers' long-term financial position before committing to an extended stay as manager. The club's new chairman, Alastair Johnston, revealed yesterday that talks over a new deal for Smith began over the weekend.

The 61-year-old’s present contract expires in January and it had been widely assumed he would pass the reins over to his assistant, Ally McCoist, from the end of this season.

Yet Smith appears willing to remain in office as long as the monetary troubles which have plagued Rangers in recent times show signs of abating. The manager has been afforded funds to bring in just a single player – on loan – since August 2008, a matter which has prompted private frustration. It is thought Rangers’ next set of accounts, due to be published imminently, will show debts of up to €32.5m.

“We want to give them (the management team) new contracts,” said Johnston. “We are not reliant on the external financial issue with respect to that.” Johnston used his first public appearance since it was confirmed he has replaced David Murray to reiterate that the “For Sale” sign remains metaphorically above Ibrox as his predecessor seeks to dispose of his 90 per cent stake.

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“The previous regime was very clear that offers for the club would be considered and even encouraged,” the new chairman added. “That remains the status. The sale of the club would . . . remove the reliance of Rangers on external financing.”

European competition is foremost in the minds of Smith and his players, with Sevilla at Ibrox tonight. Rangers may have earned a deserved draw in Stuttgart a fortnight ago but their manager is under no illusions over the magnitude of this task against the Group G favourites.

“Sevilla have won two Uefa Cups since 2005 and that is an indication they can take their domestic form into European competitions,” Smith said. “They have an excellent group of players and a squad size that enables them to change their team without a great effect on results. In my own mind they are as strong as any opposition we could get outside of the lucky clubs with the fortunes to spend.”

GuardianService