Rangers’ new owner must spend Smith says

Rangers new owner Craig Whyte needs to spend money if he hopes to see the Glasgow club win further top honours, departing manager Walter Smith has said.

Speaking after the 5-1 win at Kilmarnock that ensured a third straight Scottish league flag for the Ibrox outfit, Smith said his chosen successor, Ally McCoist, would need to bring in new players for next season.

“Unless there is a significant investment then the team will stagnate. They just can’t continue to do what they have been doing at the present moment,” Smith said.

“That is regardless of if I was the manager or anybody. Next season will be a problem. Hopefully, that will be looked at by the owners.

“But I don’t think the new owner would have bought the club unless they were happy to put money into the team. The team needs a boost.” Smith has been operating with a smaller squad and tighter budget than during his first spell as boss at Ibrox, during Rangers’ run of nine straight SPL titles.

However, last summer he spent £4m on Croatian striker Nikica Jelavic – a player who missed much of the season through injury.

Smith added: “I don’t think Jelavic will leave. I don’t think it would be the brightest thing for the new owner to sell one of our best players especially when everyone expects him to spend money.”