The golf course and time with the family beckons. But, before then, unfinished business. One last season. The opportunity to bow out on a high.

The veteran boss is, of course, no stranger to emotional farewells when it comes to Rangers.

He walked away once before, back in the 1990s, having played a major role in the club's famous nine-in-a-row campaign.

But Celtic and Hearts did not read the script that year and conspired to ensure Smith's last season ended with a whimper, rather than a bang.

There was no record-breaking 10th successive championship and no Scottish Cup to temper the disappointment.

Will he get his happy ending this time around? Smith certainly thinks so.

He gave every Rangers fan the news they had been waiting for on May 25, when he confirmed he would be extending his Ibrox stay for one more season, before handing the reins over to assistant manager Ally McCoist and first-team coach Kenny McDowall.

With the new contract came a promise of further success from Smith.

"The next season holds many challenges for everyone at the club and I would hope that with the backing of everyone - supporters, management and staff - we can pull together as a club and continue to achieve at least the levels of success we have enjoyed over the last few seasons," he said.

"We have big challenges ahead, on and off the field, but we are all Rangers men at heart and are looking forward to going for our third league title in a row and playing in the Champions League."

His first challenge will be building a squad capable of competing.

Top goalscorer Kris Boyd has departed for Middlesbrough, as has first team regular - and one of Smith's first signings - Kevin Thomson.

Nacho Novo, Steven Smith and DaMarcus Beasley had already left and Smith's squad was further weakened by the departure of 18-year-old defender Danny Wilson to Liverpool.

Champions League cash and a new business plan in conjunction with the club's bankers, Lloyds Banking Group, means Smith has been assured funds will be available for new players for the first time since August 2008.

Convincing them to come to Rangers could be a different story. Burnley's Chris Eagles has already rejected a move to Govan after failing to agree personal terms, opting to take his chances in the Championship for now. Other targets have been slow to emerge.

Meanwhile, across the other side of Glasgow, new Celtic boss Neil Lennon has been busy bolstering the squad he inherited from Tony Mowbray.

The Ibrox faithful may be growing restless but you get the impression Smith has been around too long not to have a few aces up his sleeve. The golf course can wait for now.