Scottish Football - McCoist vows caution with £10m kitty

Rangers manager Ally McCoist has vowed to exercise caution in the transfer market after being promised a budget of at least £10 million.

Ibrox chief executive Charles Green this week said almost half of the £22million raised through the club's share issue will be ring-fenced for the Light Blues boss and that further funds could be made available.

A year-long signing embargo means Rangers must wait until September 1 before registering free agents and cannot buy new players until January 2014. However, McCoist has welcomed the prospect of a healthy transfer kitty when those restrictions are finally lifted.

He said: "A minimum of £10million is certainly encouraging because we will have to spend in terms of our natural progression. It would be very, very pleasing for us to have that money to use.

"At the same time, we've still got an opportunity beforehand to hopefully bring in one or two players who are out of contract at the end of the season. It goes without saying that we are delighted with some of our younger players who are coming through as well.

"There has been a natural progression made within the club in recent weeks and that statement from Charles would be an indication that hopefully we could continue that progress."

McCoist added: "There is a great degree of responsibility with any manager or coach who gets money to spend in the transfer market. I totally understand and respect that. Not having had a lot of money to spend before, it's something I would look forward to but I would be very cautious with it."

Rangers were relaunched in the Irn-Bru Third Division this season after being consigned to liquidation in the summer. And McCoist says he has not yet given consideration to the sums of money he will need to ensure the club's rapid progression through the Scottish Football League and back to the top flight.

He said: "I wouldn't say I've looked at a figure to get us out of the SFL. I've not looked at it in great detail. At this moment in time, we are doing absolutely fine.

"We won't have any money to spend anyway for the foreseeable future so we are just hopeful we've got enough to get out of this division. I don't sit back and say I need a figure to get out of the SFL. I haven't done that at all."