That was the message from fans chief Mark Dingwall, below, today after legendary former manager Smith emerged as the frontman of a rival bid to gain control of the Gers.
"The Charles Green group is dead in the water now there is a credible alternative," said Dingwall, a director of the Rangers Supporters Trust.
A consortium led by English businessman Green bought the Glasgow giants' assets yesterday after a proposed CVA was rejected by club creditors.
However, a group of multi-millionaire businessmen, including Jim McColl and Douglas Park, now want to buy control from them. Dingwall believes supporters angry at years of mismanagement by Sir David Murray and Craig Whyte will force Green to stand aside with a boycott. He backed calls by former director Dave King and Rangers Supporters Association secretary John Macmillan for fans NOT to buy season tickets.
He said: "We are absolutely delighted Walter has come forward.
"He is a figure with credibility on a scale nobody else can match.
"He is backed by men with real business acumen who, crucially, have blemish-free records.
"Mr Green's problem was that the extent of his funds and his plans for the future were shrouded in secrecy.
"There is no good feeling around his bid. He has made no secret of the fact he and his associates are in it to make money.
"While there was no alternative, it was a lifebelt that Rangers fans would cling to while the ship was sinking.
"But now there is an alternative the Charles Green bid is dead in the water."
Dingwall added: "I would endorse the calls made by Dave King and John Macmillan and urge fans not to buy season tickets while Charles Green is in charge.
"There has been a huge question mark over the future funding of the club.
There has been no clarity. Now there is an alternative there will naturally be a boycott of his plans.
"Why should fans pay season ticket money so that Charles Green and his associates make a profit when there is a viable alternative?
"Walter and his backers are only interested in putting money in, not in taking dividends out. Charles Green has no chance."
Dingwall was stunned to hear of a reported behind-the-scenes bust-up between Green and Rangers manager Ally McCoist yesterday.
And he is now hoping McCoist can once again join forces with Smith, who he played and coached under for years at Rangers and Scotland.
He said: "It is quite clear now that the dispute between Ally McCoist and Charles Green is more than simply about Ally's job.
"My information is that he was being underhand about him behind his back.
"But I am sure McCoist had an inkling that the cavalry was waiting around the corner.
"Hopefully we will now see a reunification of the Rangers dream team."
