Rangers boss-to-be Ally McCoist will walk into a few problems if the club is not sold this summer but is planning for things to remain the same when takes over from Walter Smith.

The former 'Gers star striker will step into Smith's position at the end of the current season but will inherit some rising debts and loss of key players if Sir David Murray does not sell to venture capitalist Craig Whyte who wants to buy for around £33million.

Smith admits the Glasgow giants could be in a better position but says that McCoist and his assistants, Kenny McDowall and Ian Durrant, will plan for the 2011/12 season and beyond with the knowledge that the club may not be taken over.

"We're not in a good place," Smith told the Herald Scotland. "We need investment because we'll lose those players, plus Sasa Papac hasn't signed his contract. That's the problem we have.

"It's a concern because there's a downsizing of your group to start with and that leads to you having a lesser level of player. That's the biggest danger the club faces at present. Hopefully, the situation will be resolved, but there are problems ahead.

"They'll proceed on the basis there will be no change in owner.

"They know exactly what's in store if the club remains in the same position. You are hoping the takeover takes place. I won't say we're in limbo but we've been going down this road for the last few years now. It has to come to a head at some stage or other.

"Someone is looking to buy the club at the present moment, so we have to wait and see what happens."