Smith agrees one-year Gers deal

Veteran Rangers manager Walter Smith has agreed to stay at Ibrox for one more season.

It had been anticipated that the 62-year-old former Scotland and Everton boss would quit the financially-troubled club after guiding them to another SPL title in the season just ended, but he has been persuaded to stay on.

However, Smith has confirmed that he will hand over the managerial reins to his assistants Ally McCoist and Kenny McDowall next summer.

He told the club's official website: "I am wholly committed to managing the club next season and, when it comes to the end of next season, I firmly believe that Ally and Kenny would do a great job and I am glad everybody at the club shares that view.

"I have given this decision a great deal of thought. Next season holds many challenges for everyone at the club and I would hope that with the backing of everyone - supporters, management and staff - we can pull together as a club and continue to achieve at least the levels of success we have enjoyed over the last few seasons.

"We have big challenges ahead, on and off the field, but we are all Rangers men at heart and are looking forward to going for our third league title in a row and playing in the Champions League."

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