Smith has been unable to spend any money in the last three transfer windows as the club attempts to slash debts of up to £31million.

But winning back-to-back Clydesdale Bank Premier League titles has given them some spending power.

Majority shareholder Murray told BBC Scotland: "There are limited funds available to strengthen the team, which is necessary, and Alistair Johnston and the board are drawing up a business plan for that."

Being able to buy players may convince Smith to stay on as manager next season, with the entire coaching team having worked without contracts since January.

Murray has also urged potential buyers to show they are serious about a takeover rather than criticising Rangers.

The Ibrox owner is unhappy with comments attributed to businessman Douglas Park, which suggested the club could not be sold while under investigation by HM Revenue and Customs about offshore payments made to players.

Murray also refuted suggestions that cash from season-ticket sales and Champions League games could be seized by Rangers' bankers, Lloyds.

He told the Daily Record: "If Douglas, Dave King, Paul Murray or anyone else wants to buy the club they all know what to do.

"Stop saying why you wouldn't buy it. What's the point continually trying to undermine Rangers when it's clear finances are improving?

"Rangers' debts continue to fall and this club will make a profit next year. That's a remarkable turnaround. So talk about the bank or anyone else ring-fencing Champions League and season-ticket money is nonsense. It just isn't true and it will not happen."

He added: "If you care about the club would you endeavour to undermine it by making the kind of statements we've read from Douglas? One can only wonder why.

"Is it an attempt to weaken the club in the hope of getting it at a cheaper price? I don't know but I do know Rangers are not in any danger because of their financial position.

"Rangers is a stand-alone company and there are no cross-guarantees tying them to the Murray Group's finances. The two are separate. Even when the Murray Group were weak about 15 months ago there was never any danger of that hitting Rangers.

"People can think what they will of me but one thing I would never do is put the club in that kind of danger. Let me say this again - never at any time were Rangers in jeopardy when the Murray Group were weak.

"If Douglas, Dave King or anyone else wants to buy Rangers they all know what to do. But please, stop undermining what has been a tremendous effort by everyone at the club during very difficult and trying times."

The club have been on the market all season and Murray has recently held talks with property tycoon Andrew Ellis over a possible takeover, as well as reported interest from other parties.

Some fans have expressed concerns over the time being taken for the ownership to change hands but Murray told the Scotsman: "The sooner a deal is concluded the best it will be for all."

Murray, whose group of companies own 92% of Rangers, confirmed the proceeds from any sale would be used to pay off the club's debt.

"A buyer would pay a figure to buy a debt-free club," he said.

"Rangers are in a much-improved position."