Rangers have not received offers for Carlos Cuellar

Walter Smith has made it clear that Rangers need not sell star man Carlos Cuellar to balance the books following their Champions League exit.

"We've not had an offer for Carlos Cuellar," said the under-fire manager at Ibrox.

"We don't want one and we are not seeking one. We don't have to offload players simply because of that situation.

"There is some money there for us to bring in a couple of players yet."

Cuellar has been linked with teams in the English Premier League in the wake of Tuesday night's defeat to Lithuanian side FBK Kaunas, which ended Rangers' European campaign before the start of their domestic season.

The Spanish defender endured constant speculation over his future last season thanks to performances which earned him player of the year awards from both the Scottish Football Writers' Association and SPL sponsors Clydesdale Bank.

However, Smith insisted his club's failure to bank a Champions League windfall that could have been worth over �10million does not mean he must sell players - in fact, he is looking to add to his squad.

"We don't have to sell the player or any player at this stage," he said.

"Some players were going to leave anyway and that will still happen. But it's not entirely because of our failure to qualify for the Champions League.

"We had some money there anyway but we are finding a difficulty in getting a level of player that we want to bring in, that's been a difficult task over the close season.

"But there is some money there for us to bring in a couple of players yet."

Smith has come in for a barrage of criticism over the last few days despite his long and successful association with the club.

However, he accepts it is part and parcel of the job and only hopes his team can put the disappointment behind them for Saturday's Scottish Premier League opener at Falkirk.

"Nobody likes to be criticised in any way, shape or form," he said.

"But you don't become a football manager expecting to go through your career without receiving a level of criticism.

"If you are not prepared to accept the criticism, you shouldn't become a football mananger.

MY SPORT: DEBATE Should Rangers cash in on Cuellar?

"It comes with the territory. When you lose out in the manner we did, you expect criticism and it's deserved.

"From the chairman all the way down, we feel the disappointment.

"The one thing we have to make sure of is that the disappointment doesn't allow our domestic results to be affected.

"There is that little bit extra pressure on us to do well in the league and our thoughts must be on that - we can't let ourselves be affected too greatly going into our first league game.

"Like every other club, when you don't have European football, that's what's left for you to aim for and everybody aims to do as well as they possibly can.

"We would hope to do well in the league. We certainly made up the gap that was there between ourselves and Celtic last season and they were good enough to go on and clinch the championship at the end when we fell just short.

"We have to make the SPL our aim for the season and the retention of the two cups we won last year would be something we'd look for as well.

"So that's where we start in terms of our domestic season to try to make up for the disappointment of getting knocked out the European arena so early."