Smith's deputy and Rangers record goalscorer Ally McCoist was appointed manager of the club for season 2011–12. Hampered by a bizarre transfer policy under Whyte, Rangers found themselves knocked out of first the UEFA Champions League and then the UEFA Europa League by the end of August, depriving the club of income that may have been anticipated. With the new ownership there initially appeared to be some financial stability of the club. A number of first-team regulars were secured on long-term contract extensions including Steven Davis, Allan McGregor, Steven Whittaker and Gregg Wylde. When McCoist entered the transfer market, his first signing being Almería midfielder Juan Manuel Ortiz, he soon encountered difficulties. A number of highly publicised failed transfers, including deals for Wesley Verhoek and Roland Juhász, lead to many doubting Whyte's financial prowess.