Takeover may end Smith's Rangers reign

And Smith insists he would be "happy" to leave if his departure is in the best interests of the club, who on Sunday confirmed they had received "tentative enquiries" from potential purchasers.

"If a new owner comes in, he might want to change the manager," said Smith, who revealed his concerns on Saturday that Rangers' spending was now being controlled by Lloyds Banking Group.

"There's no point me doing anything other than what I'm doing at the moment until the club's situation has cleared up.

"We said in January that the players were up for sale so how can the manager then say he's in a safe position when the club are in this situation?"

Smith's current contract expires in January and he is prepared to work without one until a buyer can be found.

"Would I work without a contract?. Well, I would if I'm asked. They would need to ask me first. There's no point me saying anything about it," he said.

"My contract expires in January and in the normal run of circumstances, someone would leave then. So if the board ask me to stay on, I would consider it if the club's circumstances have not changed.

"The club have been quite straightforward on the situation and that applies to management as well.

"My contract runs out in January because I signed a three-year deal when I came in, simple as that. If the people running the football club just now ask me to stay on because they've not got a buyer, I would consider that. If there's a new buyer and they want someone else to take charge then I'd be happy to go, as long as it's the best thing for Rangers."