The Gers boss penned a three-and-a-half year deal in January 2007 and has no intention of quitting at the end of the season even if winning a quadruple would allow him to go out in a blaze of glory.

But when Smith, 60, finally decides to call it a day, he believes Rangers already have a ready-made replacement in former star striker McCoist.

“There is nothing set about Ally’s future,” he said.

“If it happened like that then I would be really pleased, but there is no intention on my part to maybe win four trophies and then leave.

“McCoist is different. A guy like myself and Kenny McDowell have worked our way up through the system from reserve team coaching, but for Ally, it is all new on a full-time basis.

“He got a taste of it with the national team and he gave up a lot to come to Rangers – he took the job knowing that if it didn’t go well, it might not last long!”

Rangers’ success in overcoming Fiorentina on penalties on Thursday night allowed Smith to join an elite list of Scottish managers who have guided teams to European finals.

But he insisted: “ I’ve never really bothered about the personal aspect that much. I’ve never felt comfortable with that.

“Wee Jim (McLean), Jock Stein, Willie Waddell, Alex Ferguson... It’s great to take a team to a European final and you could see how much it meant to Alex the other night.

“I don’t think I need to prove to anybody that I can manage or coach a team.

“The only thing I ever bother about is winning – I like to win and we have surpassed my expectations in terms of that this year.

“If your team gets to a European final, the manager gets a bit of recognition and that’s the nice part of it.

“But we also take a hit when things are not so good.”

Smith is relishing his second spell at Ibrox but revealed a sabbatical from the game after leaving Everton could have been permanent had the Scottish Football Association not come calling.

He added: “The two years out were good. I was lucky – a lot of unemployed people can’t afford to be. I could afford to be unemployed and it gave me an opportunity to sit back and look.

“I was able to go to games and watch teams without the pressure of having to manage. I found that really refreshing and that gave me a desire to come back.

“The Scotland job came at a good time after my three-month spell at Manchester United. Before that, it wouldn’t have bothered me if I hadn’t received an offer to come back into the game.

“I would have quite happily finished.”

Meanwhile, Smith will wait until the end of the campaign before holding contract talks with veteran defender David Weir, who turns 38 this month.

“There’s no problem but his family is settled in England,” Smith said.

“The travelling has not affected him, but we’ll see what his thoughts are at the end of the season.”