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By ESPN Staff

Miller close to new Rangers deal

Rangers manager Walter Smith has lauded the contribution of Kenny Miller and revealed the Scottish Premier League champions are close to agreeing a contract extension with the striker.

Scotland forward Miller scored twice in last Saturday's 4-0 SPL win over Dundee United, taking his season's tally to eight, and was rested as Rangers claimed a 7-2 Co-operative Insurance Cup win over Dunfermline on Tuesday.

Miller's contract with Rangers expires at the end of the season, but Smith is optimistic of retaining the services of the striker.

"We are not far away from an agreement," Smith told Rangers News. "Hopefully we can get together in the next few weeks and everything will be ironed out.

"Eight goals from Kenny is terrific. He is playing very well right now. His role has changed slightly from one where he was leading the line to one where he is now getting into the penalty area.

"His confidence in terms of finishing is there for all to see and he has shown he is more than capable of putting the ball away.''

The Gers may be in a better position to offer Miller a new contract after announcing a £3.7 million reduction in bank debt and a total debt of £27.1 million following their SPL title win and subsequent participation in the group stages of the Champions League, in financial results published on Wednesday.

Rangers revealed their bank debt incorporating term loan and overdraft facilities fell from £26.1 million to £22.3 million in the year ending June 30, 2010 and the Scottish champions also confirmed a turnover increase of £16.6 million - from £39.7 million in 2009 to £56.3million.

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