Bain says keeping Ally McCoist, Walter Smith and Kenny McDowall was crucial

Rangers fans have been urged to be patient by chief executive Martin Bain, who says that Walter Smith faces a squad rebuilding exercise this summer.

Manager Smith had six players out of contract at the end of the season but has signed a new deal himself.

"Hopefully the fans will know that they have a management team that understands the football club," said Bain.

"And all we can do is ask for their patience, because patience can be a great virtue in a transfer window."

Smith indicated on Saturday that replacing departing strikers Kris Boyd and Nacho Novo was his priority but stressed that it would not be an easy task.

Rangers have expressed an interest in Cardiff City midfielder Joe Ledley and have been linked with Sunderland striker Daryl Murphy, amongst others.

I am sure that the boys will rebuild wisely, because rebuilding is what we have got to do Rangers chief executive Martin Bain

But Bain told the North American Rangers Supporters' Association Convention in Las Vegas that it might not be until late in the window that the club finalises new arrivals.

"Like all transfer windows, things are not finalised until the last few weeks, which is not ideal from a planning perspective," said the chief executive.

"But I am sure that the boys will rebuild wisely, because rebuilding is what we have got to do."

Defenders David Weir and Kirk Broadfoot are out of contract and negotiations continue, with the latter being linked with clubs in England.

However, top scorer Boyd has decided he wants a fresh challenge and is considering offers in England, Turkey and Germany.

Novo has joined Sporting Gijon, fellow fringe man DaMarcus Beasley was released ahead of the winger's participation in the World Cup with the USA, while left-back Stevie Smith left for Norwich City.

Those departures, and a relaxing of bank pressure that prevented debt-hit Rangers adding to their squad in the last two campaigns, has given the manager more room for manoeuvre this summer.

For Bain, though, the biggest relief was the retention of Smith and his backroom team of assistant Ally McCoist and first-team coach Kenny McDowall.

"When we looked at the situation that Walter and his colleagues were going to leave - and they were - the downside from that would have been enormous had they left at the end of the season," said the chief executive.

"But now the planning starts for the new season and we have already had discussions as to how we will approach it going forward.

"These discussions are never easy at this time as there is an expectation from people as to what our plans are, but it's all work in progress."

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