Murray has highlighted the comparison between the club's wage bill and the salaries paid to players, including some low achievers, in England's Premier League.

The UEFA Cup final on Wednesday, when Rangers face Zenit St Petersburg, could see manager Smith's side land the club's first European trophy since 1972.

Murray believes victory could be ranked as the club's greatest triumph in Europe.

Rangers won the European Cup Winners' Cup in 1972, and were runners-up in 1961 and 1967.

But Murray said: "This is a remarkable time and none of us probably realises it until we go back. Yes, '67 was remarkable and '72 remarkable. But I think when you take the financial parameters into it this time is more so.

"Derby County's wage bill is £5million more than Rangers'. Newcastle's is nearly three times, Aston Villa's is double, Everton's is double.

"We have managed to get there with a group of new players. You would never envisage this, to be totally honest. It is a remarkable time."

Rangers are expected to embark on an open-top bus ride in Glasgow on Thursday, whether they win or lose in Manchester on the previous evening.

The short journey along Paisley Road West is set to end at Ibrox.

Should Rangers lose, the reception the team get would be warm and appreciative if not celebratory, however Scottish Premier League executive chairman Lex Gold expects he would become a target for criticism if Smith's team fail to get the better of Zenit, who drew a friendly 2-2 against AZ Alkmaar yesterday.

The SPL refused Rangers permission to postpone yesterday's game against Dundee United.

Rangers had wanted additional time to prepare for Wednesday's final.

Gold, who has insisted the United game could not viably be rescheduled at this late stage of the season, is aware he could be blamed in some quarters should Zenit win at the City of Manchester Stadium.

Gold said: "I don't need to worry - it will happen. So why worry?

"From a personal standpoint, what I've tried to do throughout all of this is to do what's right and fair. That's all you can do.

"You've got to be able to look at yourself in the shaving mirror.

"I'll let other fair-thinking people make their own personal judgements about it."

Murray, frustrated by the League's stance, has already requested a meeting with the SPL management over the summer, and Gold said: "We will welcome him to Hampden."