Walter Smith confirms Kevin Thomson is latest name on Strachan's radar at Boro

"They're interested in him," Smith said of Thomson. "But so far we haven't reached any agreement."

The Ibrox club are not actively looking to sell anyone, and remain hopeful of adding one or two players to their squad before the start of the season. But Smith explained that, while they have money to spend on new recruits, they would probably be unable to compete with offers from elsewhere - especially for those players who will be out of contract at the end of this season.

"The problem we have is a fairly simple one. Currently we can't offer any of the boys that are out of contract at the end of the season anything at present.

"So it's an awkward situation when clubs do come and show an interest in those players."

With the club's priority to put itself on a sounder financial footing, Smith added: "We have got a bit of money to spend at the present moment, but it is not entirely fair to say that money that comes in will automatically go back to the team. It won't.

"We're not actively looking to sell anybody, and we don't need to sell anybody. We're looking to bring them in. But in fairness to all the players, if a club shows an interest, especially in a player who's out of contract at the end of this season, the likelihood is - like Kris Boyd and others - that we'll be unable to offer them the contract that we want. Then we have to look at the inquiry."