Rangers boss Ally McCoist set to be handed £30m once transfer embargo is lifted

Ally McCoist: Rangers boss in line for significant transfer windfall

Rangers chief executive Charles Green has pledged to hand boss Ally McCoist up to £30m for new signings when the club's transfer embargo is lifted.

The Scottish Third Division leaders are barred from buying players until January 2014 but revealed on Tuesday that they had raised £22.5m from the club's share flotation.

Green said: "In the presentation we did when we were selling the shares, we said that, of the £22m, £10m is put to one side for Ally.

"Of course, we can't buy players at the moment, we can't do that until January 2014.

"But between now and then, we'll also have another season's worth of season ticket sales so the cash position will increase."

Green added: "We're not saying it's £10m and only £10m.

"If Rangers fans, as we expect, come out and buy their season tickets next year, there is perhaps another £20m there and that is a fantastic position for the manager, the club and its fans to be in.

"When we are allowed to go into the market, this club will take the right players and take the right action.

"This is definitely the springboard for the rebirth of Rangers.

"Never in the club's history did it sit there with no debt, no borrowings, with cash in the bank.

"The enterprise value of Rangers is still very, very low and that's why, I believe, institutions have invested in it."

Don't miss any live and exclusive football coverage this festive season. Click here to visit Sky Sports' Festive Calendar