Rangers manager Ally McCoist has said that the club may not have the £ 10 million transfer funds to spend in the summer. The absence of the Chief Executive, Charles Green, who promised the extravagant transfer funds for the club is thought to be the main reason behind this comment by McCoist.

Rangers have been linked with several players as they prepare to start life in the second division of Scottish football. The club was recently promoted from the third division in an emphatic manner, but their performance in other cup competitions has not been up to the mark.

Queen of South striker Nicky Clarke has been linked with the club and he is expected to sign a pre-contract agreement soon. McCoist has said that he is not in need of money to offer job security at the club. Clarke is expected to be one of the major signings for the club. He has scored 40 goals this season for Queen of South. The transfer embargo for the club will be lifted in September, thus allowing McCoist to provide some much needed strengthening to the squad. Rangers finished top of the Scottish third division with a 24 point advantage.

They are expected to challenge for a return to Scottish first division from next season onwards.

“Maybe I’m turning into an old cynic but I’m not sure that £10 million is there. It’s terrible how football does this to you but I was promised all sorts of money to spend when I took this job and now I've been promised money to spend again. I will ask the question but I would imagine the budget won’t involve the 10 million. I have to spend to get out of whichever division we’re in and keep me, Ian Durrant and Kenny McDowall – as well as the rest of the staff – in a job," said McCoist.