Nothing would bring Rangers' troubles into sharper focus than defeat in an Old Firm game. If Celtic are to extend their lead over their old adversaries to seven points with a win on Sunday, the storm clouds which now routinely hover above Ibrox will come perilously close to bursting.
Alastair Johnston on Monday made his first public address since being appointed as the Rangers chairman. Although, he insists, it is not his main remit, the vice-chairman of the International Management Group has aspirations of finding a buyer for Sir David Murray's 90% stake in the club.
Debate continues to rage over Murray's methods of running Rangers over the past 20 years. What cannot be disputed is the troublesome position they are now in.
The manager, Walter Smith, has signed only one player – Jérôme Rothen arrived on loan from Paris St-Germain – in more than a year while 10 others have departed. Rangers' next set of accounts will report debts approaching £30m. The £17m which will be picked up from this year's Champions League involvement, far from being a bonus, will be regarded as necessary by bankers.
Smith's position, now under serious scrutiny, is inextricably linked to off-field matters. Johnston has opened talks aimed at extending the manager's contract by as much as 3½ years from its present expiry date in January, but any agreement will not be imminent. Privately frustrated by monetary restrictions, the 61-year-old Snith will think carefully before continuing along what has become an uneven journey. Even the contract he will be formally offered is subject to bank approval.
Smith yesterday insisted he can handle whatever flak will be thrown at him in the event of defeat by Celtic. Supporters, now obviously agitated, will look no further than the dugout if the team's run extends to just a single win in seven outings.
"That is a manager's life," explained Smith of rancour from the stands. "If you take a job, especially in Scotland, that [the criticism] happens to you. And it happens to you regardless of previous circumstances. That isn't what bothers me; what bothers me is that we haven't started the season the way I would have hoped. That gets to me more than anyone's opinions."
What will also perturb Smith, with some justification, is that he has more than matched his remit during his second spell in charge at Rangers. In May he reclaimed the Premier League title from Celtic's grasp while another three domestic trophies and a rare appearance in a European final have also been achieved in the past 2½ years. His reward for this may be a new contract, but it would be one offered against the backdrop of an uncertain future at Ibrox.
"If everything at a club was to go swimmingly, you wouldn't need a manager," Smith said. "You are employed to handle problems more than anything else."
Prominent in the former Everton and Scotland manager's mind will be a moral obligation to his likely successor and long-time friend, Ally McCoist. If Smith is unwilling to operate within such tight restrictions for much longer, he would surely be uncomfortable with McCoist taking his first management job under the same circumstances.
Yet there is little indication of imminent off-field change. No offers have been forthcoming for Murray's shares with only Dave King, a Rangers investor and close friend of Johnston, touted as a realistic new owner. King, though, is currently in the midst of a £180m tax case in South Africa.
Pedro Mendes, once in the employ of José Mourinho at Porto, is among the Rangers players who want the current manager to prolong his stay. "I have worked under some top managers and Walter is one of them," said the Portuguese midfielder. "Continuity is important for this club and it would be great for the club as a whole if he could stay. He has created a relationship with every single player which means that everyone wants him to stay with Rangers."
The US-based Johnston has told close friends that because of a series of meetings in Glasgow, last Monday was the first time in 20 years he had no time to talk with his personal assistant. He also stressed that "being four points behind Celtic is not a crisis". If that gap stretches to seven he should be prepared for a similarly fraught opening to next week.
