While reading that I spotted this ... interesting from January 2009:
WALTER SMITH may be enduring his toughest-ever period as Rangers manager but the former Everton boss reckons the financial meltdown he faced at Goodison was worse.
Gers have to raise £3million in this transfer window and need to flog a first-team star to do so.
However, at Everton, Smith was forced to punt the likes of Duncan Ferguson to Newcastle for £7m and Michael Ball to Rangers for £5.5m to avert a cash crisis.
Walter said: "What's happening at Rangers is nothing compared to the events at Everton. The consequences at Goodison were far greater than we have here.
"The club was put up for sale by Peter Johnson and I had to help run the place with the chairman.
"We brought in players and then three months later found we just couldn't honour the commitment.
"Payments couldn't be made. We were fire-fighting.
"I brought in youngsters such as Olivier Dacourt and Marco Materazzi. But they had to be sold and went on to do well in their careers.
"I had to bring in Paul Gascoigne and Richard Gough for a spell to help patch us up. Overall I had 86 transfers in and out."
Sir David Murray now wants to see Rangers run itself without any input from his personal finances, much like Roman Abramovich has told Chelsea he wants it done.
After 20 years at the helm and with the credit crunch taking its toll on all businessmen, Smith totally understands where the owner is coming from.
He said: "We need to adjust and that's exactly what we're trying to do.
"But I expect we'll be fine come the summer, back to a level playing field, and we'll be looking to bring in one or two new faces at that time.
"Players will also leave at the end of the season as contracts expire. A few of the younger lads will then come in to fill the spaces."