WALTER SMITH believes Ally McCoist is ready to become a manager in his own right - but he doesn't expect the Ibrox assistant to go anywhere soon.

It is becoming increasingly likely that McCoist is being groomed to take over the reins at Ibrox when Smith eventually steps down and it is something that both the Rangers manager and McCoist are ready for.

"Alistair would be ready to take a club now if he wanted to," said Smith.

"There is no doubt about that. But he is happy where he is at the moment.

"Often when ex-players get an opportunity to go straight into management, they have to take on staff more experienced than them to help run things. He's already gained that experience.

"As well as his overall intelligence, his ability to observe a game and assess the situation is very good. He also has an excellent grasp of tactics and selection."

And McCoist himself has revealed that while he is loving his "dream job" at Ibrox at the minute, he is eager for the chance to take charge on his own.

"Walter has been my mentor since I was in the Scotland under-17s, which is the best part of 30 years," he said.

"That's how highly I'd take his advice.

"The gospel truth is that I enjoy working with him so much that I'd be happy to stay here and do this for as long as he wants me.

"But yes, I am ready to be a boss on my own.

"There's so much more to coaching than turning up on a park with a group of players.

"I just finished my Uefa Pro Licence at Euro 2008 and over those two years I received insight from the likes of Kenny Dalglish and Kevin Keegan, have been away to business schools, and had a grounding in accountancy and dealing with the media.

"It has really opened my eyes. I had created a certain TV image, but my former team-mates and our current players know what I am like - and that's all that matters to me.

"I still love life to the full but - and it's a massive but - we have to win our matches. It's what keeps us in a job.

"You don't get that just by running around smiling and telling jokes."

And McCoist is relishing the pressure of his role.

"When you manage or coach at an Old Firm club there's huge pressure to win all your games in both the league and cups," he said.

"But I really do enjoy it."