Rangers chief executive Martin Bain has revealed boss Walter Smith has agreed to work without a contract when his current deal expires next month. Speaking at the club's annual general meeting, Bain said: "To clarify the position of Walter Smith and his assistants with regard to contracts, we are lucky to have a management team who are all true Rangers supporters.

"Walter, Ally and Kenny have agreed to work without contracts to protect the club from having a management team that new owners might not want."