Walter Smith has admitted that he feels "guilty" about leaving Rangers at the end of last season and he is prepared to lend his support to the troubled club in an "advisory capacity."

Smith retired in May, but after seeing his beloved Gers go into administration and hit with a 10-point penalty, the 64-year-old is sorry that his former number two Ally McCoist has been left to pick up the pieces.

He told The Scotsman: "At the time, I felt it was the right time to leave Ibrox, but when I try to take in everything that's happened recently I really do feel guilty.

"If I'd stayed another year at least, I would have had all my experience to fall back on. Instead, Ally McCoist, Kenny McDowall, Ian Durrant and Jim Stewart have had to handle this dreadful situation in their first year in charge.

"I really do feel badly about exposing them to all that's gone on since I cleared my desk. So if someone was to ask me now if I'd return to Ibrox in some advisory capacity, I would."

Smith guided the Ibrox club to three successive SPL titles before his retirement.