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WALTER SMITH has been offered a new deal to remain in the Rangers hotseat.

But the Ibrox manager won't sign it until he gets guarantees on cash for new players.

New Gers chairman Alastair Johnston revealed talks have taken place with the veteran gaffer ahead of tonight's Euro crunch with Sevilla.

Johnston is keen to hand Smith and his backroom team of Ally McCoist and Kenny McDowall contract extensions.

Their current deals run out in January and negotiations on new packages will continue after the Sevilla clash.

But SunSport can reveal Smith, 61, is in no rush to pen a new long-term deal.

He wants more talks with Johnston and chief executive Martin Bain on the club's direction.

Smith has been denied cash to improve his squad in the last two transfer windows.

Rangers remain up for sale and the next financial results are expected to reveal debts of £30million.

But Johnston still believes he can give Smith the answers he craves and convince him to extend his stay.

The Ibrox chairman said: "I want to give the current management team new contracts.

"We are progressing with it and have held talks over the weekend.

"The board and myself are very supportive of the continuation of the management team as it is in place.

"That is our desire and we will be working towards these ends."

Johnston flew in from his US base for the SPL clash with Aberdeen and the Sevilla game. And he used his brief return to Scotland to kick-start the contract talks.

He added: "These are relationships which needed to be discussed in person.

"Over the course of the last few days I have had the chance to sit down with Walter and spend a lot of time speaking about his philosophy and his ambitions in the long and short terms.

"These were very important talks. You have to have chemistry, understanding and belief in a relationship.

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"Martin Bain has already been in discussions with the people who support Walter - Ally McCoist and Kenny McDowall."

Smith said: "There's a lot happening at the club at the moment. I am comfortable with the situation as it is now.

"There is more to it all than just signing a new contract.

"There are discussions taking place on what direction the club is going."

walter has probally been told u will get whatever money u make from players sales in january

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WALTER SMITH has been offered a new deal to remain in the Rangers hotseat.

But the Ibrox manager won't sign it until he gets guarantees on cash for new players.

New Gers chairman Alastair Johnston revealed talks have taken place with the veteran gaffer ahead of tonight's Euro crunch with Sevilla.

Johnston is keen to hand Smith and his backroom team of Ally McCoist and Kenny McDowall contract extensions.

Their current deals run out in January and negotiations on new packages will continue after the Sevilla clash.

But SunSport can reveal Smith, 61, is in no rush to pen a new long-term deal.

He wants more talks with Johnston and chief executive Martin Bain on the club's direction.

Smith has been denied cash to improve his squad in the last two transfer windows.

Rangers remain up for sale and the next financial results are expected to reveal debts of £30million.

But Johnston still believes he can give Smith the answers he craves and convince him to extend his stay.

The Ibrox chairman said: "I want to give the current management team new contracts.

"We are progressing with it and have held talks over the weekend.

"The board and myself are very supportive of the continuation of the management team as it is in place.

"That is our desire and we will be working towards these ends."

Johnston flew in from his US base for the SPL clash with Aberdeen and the Sevilla game. And he used his brief return to Scotland to kick-start the contract talks.

He added: "These are relationships which needed to be discussed in person.

"Over the course of the last few days I have had the chance to sit down with Walter and spend a lot of time speaking about his philosophy and his ambitions in the long and short terms.

"These were very important talks. You have to have chemistry, understanding and belief in a relationship.

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"Martin Bain has already been in discussions with the people who support Walter - Ally McCoist and Kenny McDowall."

Smith said: "There's a lot happening at the club at the moment. I am comfortable with the situation as it is now.

"There is more to it all than just signing a new contract.

"There are discussions taking place on what direction the club is going."

walter has probally been told u will get whatever money u make from players sales in january

Goodbye walter smith , we should be using any money we have to clear the debts not new players , sign contract extensions for the shite we have got and clear up the debt !

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