Rangers admit Boyd on way out of Ibrox
Boyd, whose 26 goals last season helped him become the Scottish Premier League's all-time record scorer, has been linked with Blackburn, Birmingham, Newcastle and Turkish outfits Kayserispor and Trabzonspor.
Smith, who this week signed a new one-year contract himself, told the Daily Record: "Kris is going. There is no doubt about that now. We have never wanted to admit he would leave but we are doing so now.
"We've made him an offer but he's getting much higher offers from other clubs and he is going.
"Kris leaves here with the best wishes of every one of us at Rangers. He has been absolutely terrific for this club and his scoring record is second to none.
"I know people have said I had a problem with Kris because I left him out of a lot of my starting teams but I actually get on very well with him. I must admit I like him and I hope he is a success wherever he goes.
"I'm disappointed we can't offer enough to keep him with us but I really do wish him continued success."