Ally McCoist shares 'Massive' financial issue at Rangers live on air today

Rangers are suffering from “massive” financial problems but recruitment is the key to success, Ally McCoist has said.

Despite several new signings at Ibrox this summer, Philippe Clement and Nils Koppen have been tied to a shoestring budget while their Old Firm rivals Celtic have splashed the cash.

Brenden Rodgers’ side spent £8.6million on Adam Idah [Glasgow Times] and £9.5million on Arne Engels [Sky Sports] while the Gers were forced to spend more cautiously and search for free agents, but McCoist believes this is no excuse.

Speaking live via talkSPORT on Tuesday (3 September, 7:27am), he said: “I’m not privy to it anymore but anyone can look at the situation and tell you we’ve got massive problems financially. One of the key things, though, is recruitment.

“Celtic’s recruitment has been excellent. Rangers’ has been anything but. Whether you’ve got £1million to spend or £40million to spend, you’ve got to get it right more often than not. Rangers haven’t done that.

“Rangers gave money to Michael Beale, and I’m not sure how much, but it’s not been as wisely spent as it should have been. If you look at their signings, the goalkeeper, who was at fault this weekend, has done well. Sterling is another one but after that…

“Look at Celtic’s recruitment. Brendan [Rodgers] has brought in four or five players for £28million and gets that back on Matt O’Riley, so their net spend is nothing. And they’re bringing in quality – that’s a massive thing. I get that they’re spending more because they have more but the process has to be the same.”

Rangers continue to suffer financially as Celtic increase gulf

It is not difficult to see the gulf between the Old Firm rivals, especially when it comes to how much money is being spent. That also translates to the results on the pitch.

The Gers have claimed just one win over the Hoops in the last 12 meetings, which has also correlated with the Light Blues only lifting one Scottish Premiership trophy in the last decade.

There is no hiding from the fact that recruitment has been awful at Ibrox over the last few years, with only a handful of good signings to balance it out.

Of course, shot-stopper Jack Butland is one of the best signings the club has seen in recent times, playing a vital role for Clement last season, but that has not helped them to compete with Celtic.

It seemed that the Gers had the chance to even things out during Michael Beale’s reign, though his transfer plan during the summer of 2023 was far from ideal, leaving Clement with little to work with and a team full of duds.

The Belgian still has plenty of changes to make, with a limited budget, if Rangers are to win the Scottish Premiership title again.

In other Rangers news, Graeme Souness has taken a bet live on talkSPORT over the club

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