Date: 21st April 2017 at 12:10pm
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Walter Smith was in the dock this morning as the Craig Whyte fraud trial got underway.

The exact role that he played in the £1 takeover of Rangers (IL) in 2011 is hard to determine with today’s questioning gently looking at the role that finances play in running a football club.

Throughout two tenures at Ibrox Smith was known as a cheque book manager with Dave Murray finding the means to recruit players regardless of the circumstances.

As finances became more critical at Ibrox during Smith’s second reign it became obvious that the club had to reach the Champions League to stay afloat.

The extent of those problems were revealed in October 2009 when the Ibrox boss told BBC Scotland: “As far as I’m concerned the bank is running Rangers. Sir David has stepped down and a representative of the bank has been placed on the board. It’s not a situation anybody wants the club to be in.

“And it’s not the bank’s fault as they are not going to invest in a club. We haven’t bought a player in nearly 18 months but I’m not going to complain because I’m perfectly aware of the situation.

“It was a bad thing when Sir David stepped down as chairman as he always tried to invest.

I hope there can be a change of owner sooner rather than later. We’re up for sale and just trying to be honest about the situation. It’s not ideal but we’re all trying our best.”

Today in court, according to the tweets of James Doleman Smith was more guarded about financial matters preferring to leave that area to others.

Responding to questions from Donald Findlay Smith replied.

Having decided to step down as manager at the end of the 2010/11 season Smith was pivotal in the decision to appoint Ally McCoist as manager, within 12 months of Smith walking away as manager the club went into administration followed by liquidation.