The League 1 champions are still licking their wounds after Sunday's Ramsdens Cup final defeat to Raith Rovers, with manager Ally McCoist under unprecedented pressure ahead of this weekend's home visit of Dundee United in the last four of the William Hill Scottish Cup.
McCoist believes his side can defeat Jackie McNamara's men and make it to the Celtic Park final on May 17 and has always maintained he has to take Rangers back to the Premiership at the first time of asking next season.
However, Findlay claims the collection of players at McCoist's disposal right now would have been wholly incapable of fighting and scratching their way through what has proved to be a fiercely competitive league.
"A lot of people I know have watched a lot of Rangers and they wouldn't have won the Championship this season," he said. "No chance. Not a cat's chance in hell.
"The football sometimes isn't great, but there are a lot of old pros in the Championship who know how to avoid losing matches. On any given day, most of the teams in the Championship could have beaten Rangers."
Findlay, however, has defended McCoist in the face of criticism over the appearance of a photograph that allegedly features him singing songs at a party at Ibrox for players and families after Sunday's defeat.
"Away and behave themselves," bellowed Findlay, forced to resign from the board of Rangers in 1999 after he had been filmed singing controversial songs at a private party.
"It's rubbish. When we won, we partied. When we lost, we partied harder. You put guys like McCoist, Andy Goram and Paul Gascoigne in a room and say to them that we're going to have a miserable night.
"Give us a break. No chance. That's just ridiculous. They lost a football match. Not a bloody war."