Walter Smith admits Rangers are being priced out of the transfer market. The size of the fees being demanded by clubs and players means Smith is struggling to get his targets in as fans await the club's first signing since August 2008.

"Market forces are against us right now and that is happening a lot," Smith told

"Everyone says we have a small group of players and that we will need to bring new ones in and, of course, that is correct.

"But when we are looking around it's difficult to achieve the balance of getting the level of player you want given the level of finance available.

"So that is the task that faces us and we will obviously try to bring in the best we possibly can."

The Rangers manager hopes to have fresh faces on the plane when his squad flies to Sydney for a pre-season tour on July 20 but he will not rush the process.

"I would hope to have new faces in before we travel to Australia but it is not something we are going to dive into," the 62-year-old said.

"In the past through different sets of circumstances the club have maybe had to do that and it has not worked out in the right way."

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