Rangers could find themselves carrying the flag for Scottish teams in Europe this season after disappointing defeats for Celtic, Aberdeen and Motherwell in their qualifying rounds.

Smith's Rangers will open the four-team pre-season tournament at Arsenal's stadium against French side Paris St Germain today.

The tournament also involves Arsenal and Atletico Madrid and Smith is confident the games will help them prepare for a tough European campaign - even though they will be cast in the role of underdog in the Champions League.

"For clubs like Rangers, the pressure is always on to do well in all the tournaments we play in," said Smith.

"The Champions League takes us out of an environment where Celtic and us are the biggest sides in the country. We then enter an environment where we are the underdogs and we have to accept that.

"There has been a rise in the standard of the Champions League in the last few seasons. The big clubs have the best teams and squads. It is going to be a very difficult challenge but we will accept it.

"It is a big platform to play on and we showed we could acquit ourselves well the last time we were there and hopefully we will do so again."

While Smith looks forward to doing battle with some of the best in Europe, he admits that he is unlikely to experience the heat of the English Premier League with Rangers.

The subject of Rangers and Celtic taking on the best in England in the Premier League continues to be a major talking point on both sides of the border.

But as much as the Scot would love it to happen on a personal level, he understands that England's top clubs may not be so keen.

"I would love to see it happen because it would be of enormous benefit to both clubs," said Smith.

"But I don't know whether English teams, in the end, would vote for that. I don't think they would.

"I remember being at Everton once where it was asked at a board meeting and the directors said there would be no chance of it happening.

"That would be the case in most boardrooms because Rangers and Celtic would not come down here to be middle-of-the-league clubs.

"After a bedding-in period they would be among the challengers and I think that would be apparent to most English clubs and that is why I don't think we will get the opportunity."