The prospect of Rangers having new owners will not dissuade manager Walter Smith from his intention to step down at the end of the season.

Smith issued a firm "no" when asked if an improved financial situation at Ibrox could lead to him staying on.

Craig Whyte is considering a bid to buy Rangers after opening talks with Murray International Holdings.

And Smith has called for a quick resolution to the latest takeover offer for the Scottish champions.

Scottish tycoon Whyte has joined forces with London-based property developer Andrew Ellis, who was previously involved in a proposed buy-out which fell through earlier this year.

Although a formal offer for Rangers has yet to be made, a deal could be concluded by Christmas and Smith is keen to avoid a protracted saga.

When there is an element of doubt about the club and future owners, I don't think that's a great thing Walter Smith

"It's not just the footballing side, from everyone's point of view, if there is going to be a resolution, then it should be handled as quickly as it possibly can," said the 62-year-old.

"Unfortunately, I don't think these things can be done that quickly but I would hope it would go one way or another as quickly as possible.

"We've had had this two or three times before and we just have to wait and see what the outcome of this one is.

"For us in football, it's a matter of us carrying on and doing what we are doing. We have a big week coming up that we have to try to handle."

If a deal is concluded, the new owners would wipe out the club's £27m debt, as well as invest around £25m in the playing squad over the course of five years.

When it was put to Smith that a Christmas takeover could also result in funds for him to strengthen in January, he said: "Never mind the transfer window or anything like that, when there is an element of doubt about the club and future owners, I don't think that's a great thing for the club.

"It's not a great situation for the club to be in. If someone does come along and takes over the club, that's fine.

"As long they've got Rangers' interests at heart, that's exactly what we would want. It's just that, if it happens too often, it becomes an awkward circumstance."

Meanwhile, Smith does not believe asking referees to declare their allegiances is a concept that would work in Scotland.

Celtic have backed such a scenario, which has been proposed by MSP Pete Wishart, with a similar system already in force in England.

But Smith said: "In bigger countries you can handle that aspect of it without any problem. I don't think you can do that in Scotland."

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