SIR DAVID MURRAY has been forced to sell Kris Boyd because of the calamitous Champions League KO at Kaunas and running the gauntlet of the financial perils of the credit crunch.

That is the view of KPMG financial expert Blair Nimmo, who reckons the opportunity to clear £11,000 per week off the Ibrox wage bill and make a £2.7million profit on the initial outlay for Boyd is just too good an offer to knock back.

Nimmo said: "Rangers have found themselves in a difficult financial position and they are doing their best to get out of it. They lost a lot of money going out of the Champions League and I think they're still trying to make up the shortfall. Supporters need to understand that.

"It sounds like this is a purely financial decision as Rangers try to get what they can for one of their top assets."

And despite the fact Gers hopes of stopping Celtic claim four-in-a-row would be sure to take a severe dent with the sale of 20-goal top scorer Boyd, Nimmo has urged the Ibrox faithful to be realistic.

He said: "I wouldn't pretend to know the ins and outs of Rangers' financial business, but they're just like any other business.

"No-one is immune to this credit crunch and companies have to cut their cloth accordingly. We're in uncharted territory and no-one quite knows what is around the corner.

"Right now money is tight for businesses. The last six months have been tough and the next few months could be tougher "When they go to their banks they are not finding it quite so easy to get credit."