IF, as manager-speak often tells us, every signing is a gamble, can making no signings be deemed equally as perilous?

Walter Smith let the midnight hour pass last night without adding to his squad, opting to head into next Wednesday night's first leg of the crucial Champions League qualifier against FBK Kaunas with what he currently has.

In terms of the strength of Smith's hand, he clearly feels he has enough to get past the Lithuanians, having watched them himself and having had them scouted extensively since the draw.

However, robbed of captain, Barry Ferguson - such an important player any time Rangers enter the European stage - and deprived of the pace and directness of DaMarcus Beasley, Stevie Naismith and Chris Burke, there is clearly an element of risk attached to the decision not to add to the midfield.

In terms of numbers, Smith is well served at the back and up front, even if the overall quality of the personnel in those areas could still be improved upon in the remainder of this transfer window.

But in the engine room of his side, such an important area on a night when the midfield has to drive the team on to overcome what looks a tricky hurdle, Smith has severely limited options.

Kevin Thomson, a player he holds in high regard and someone he believes will flourish in his second full season at Rangers, is a certain starter.

But, for all Thomson's capability of snapping into tackles and getting around the pitch, he is not known for genuine creativity or defence-splitting passes.

Nor his goal-scoring, his fine finish against Celtic last March his only strike for Rangers since joining from Hibs for £2million in January 2007.

Smith's options as a partner for Thomson in the middle of the pitch, have been assessed on the pre-season tour in Germany and in run-outs here.

Lee McCulloch and Christian Dailly were tried. But, for all this pair are decent, honest players, they are not midfielders and didn't look at all comfortable.

Brahim Hemdani has returned to fitness, but is too similar to Thomson. Often a European specialist, the former Marseille man's game is based on ball retention and an ability to cover the back four; there is no incision at all in Hemdani's play.

Given that Kaunas, well into their season, are bound to set out with a game-plan to frustrate and keep it tight in the hope of causing an upset on their own patch, there has to be some kind of forward thinking option from the middle.

Charlie Adam, for all his critics, at least has a natural thought to go forward. At times he tries the Hollywood' pass, when a simple option would be best. But he can display imagination, can score goals, and deliver set-pieces that could prove crucial.

His case looks to be the most significant for inclusion alongside Thomson, allowing Nacho Novo and possibly Kyle Lafferty to operate on the flanks and support whichever of the two front-men Smith opts for.

The Rangers manager has been restricted by what remains of his budget this summer and, even though there was some movement from Fulham on their £4m valuation, it wasn't enough to get Steven Davis to the club permanently last night.

That may well still happen, as could Dickson Etuhu, a player that Smith has identified as someone who can put his foot in and add presence and bite to his side. But, until Sunderland add midfielders of their own, boss Roy Keane won't sell the Nigerian.

Smith, therefore, has to focus on what he has and try to formulate a midfield to take this mission on.

Ideally, Rangers would like a decent lead and a clean sheet to take the sting out of the return to Kaunas, but this stage is laced with danger and can be lethal - just ask Gordon Strachan after the damage Artmedia Bratislava caused to Celtic three years ago.

Rangers have yet to suffer the ultimate European disaster at this stage, but there is no parachute until the third round - lose at the this stage and you are out for the season.

In 1999 they overcame Haka of Finland, going on to beat Parma to make it through to the promised land; the following year, ironically, they saw off Kaunas 4-1, although it was a nervy night in the first leg at Ibrox, before Herfolge of Denmark were despatched.

In 2001, Maribor of Slovenia were dealt with easily, and Rangers' last venture into the second round qualifiers a year ago saw them take on Zeta, of Montenegro.

On a tense Ibrox night, the performance wasn't the best, even though a 2-0 first leg lead provided the desired foundation to go on to face Red Star.

Kaunas could be similar, and Smith needs a side that has been sluggish in pre-season to step-up, as their European future for the season is on the line. It is unlikely to be pretty, and midfield will be the first area under the microscope. Smith needs his policy to wait for the right deal, and the right men, to work out.