Walter Smith admits Kris Boyd's new contract offer is still subject to final approval if the striker agrees to remain at Rangers.
But the Ibrox boss stressed that does not necessarily mean the deal will be scuppered as a result of Lloyd Banking Group's involvement in the club's finances. Top goalscorer Boyd is one of a number of players out of contract this summer, with supporters desperate to see him pledge his future to the Scottish champions.
"It's not been ratified by Kris yet - that's the main thing," said Smith.
"The other aspect of it is something where you have to wait until you know whether you have something to take to someone or not.
"We haven't had a situation where we have had an agreement with Kris or his agent yet. The other aspect of it doesn't come into play until that happens.
"Martin Bain (chief executive) is more involved with the people who are running the club at the present moment than I am.
"I just know that he has to sit down and try to ascertain what level of money each of the players we are negotiating with at the present moment want. Then, in all probability, we would have to go back and see if that ties in.
"The situation is that we have a budget that we have to stay within. It's a complicated aspect at the present moment and it's not quite as black and white as saying if Kris Boyd, or anyone else, accepts a contract, that we have to go and get that ratified and they can turn it down.
"It's not as simple as that. That's the situation and we all have specific problems at the moment that we have to try and overcome.
"The offers have been made with a view to re-signing players. We have the capability of doing that."
Source: PA
