ALLY McCOIST has said it could cost around £30m to bring in players that would make Rangers competitive at the top of Scottish football.

Speaking on the second anniversary of the club's descent into administration, the manager tried to put a price on the leading players it had lost in the last two years. He included Steven Naismith (Everton) Steven Davis (Southampton), Steven Whittaker (Norwich City), Allan McGregor (Hull City) and Nikica Jelavic (sold to Everton but now at Hull).

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McCoist said: "If we get investment and funding, then I'd be very hopeful that we'd obviously be in the top league and that we would also have a better chance of bringing in the quality of player to hopefully enable us to compete at the top level in the top league. And stability as well, of course, at boardroom level. That is vitally important."

He was pressed on how much was needed to make Rangers compete for an SPFL Premiership title. "It's difficult to put a figure on it, impossible to put a figure on it, but if you lose, maybe in the region of £30m worth of players - is that a fair number to say what we lost if you combine them all; Whittaker, Jelavic, Davis, McGregor and all these boys?"

McCoist added: "I'm not saying £30m is the exact figure but that's roughly what we've lost. Some will argue it might be more than that, some might say a little bit less, but my point is you can't lose that and not replace it and expect to compete at the top level."

McCoist, who received his manager of the month award for SPFL League 1 yesterday, spent the afternoon in talks with Graham Wallace, the chief executive, who is completing his review of Rangers' finances.

"There is a lot of work to be done and a lot of things to be discussed which I know he's looking forward to and I certainly am as well," McCoist said.

He said he had not mentioned the sum of £30m to the chief executive but said the subject of investment would have to be brought up.

"I've been invited to board meetings, which I look forward to, to discuss football, discuss first the team, discuss the under-20s, discuss the youths at Murray Park and all of that will be brought up. As will the scouting which needs addressed imminently."

There has been speculation that the club may enter administration but McCoist said he had been told "categorically" by Wallace that would not happen. He added: "He told me once and that if that changed he would tell me otherwise. I'd fully expect in the relationship I have with him that if the goalposts had moved in that direction he'd have told me."