ALLY McCOIST is confident there will be a solution to Rangers' off-field problems sooner rather than later as he backed Dave King and Mike Ashley's investment plans.

King, a former club director, held talks with the chief executive Graham Wallace and the chairman David Somers this week alongside George Letham, one of a group of businessmen who has pledged £8m as part of a funding package.

King is prepared to put a similar amount on the table and was positive after discussions with the board but Ashley's plans are less clear.

The Newcastle United owner recently increased his stake in Rangers and has a grip on the club's retail and merchandise deals, as well as a naming rights agreement for Ibrox.

McCoist hopes for a quick resolution in the battle for control and said: "It's fantastic they are sitting down and talking. I have said all along, particularly recently, that at some point in the near future we are going to need investment in the club.

"You hear concerns about money running out and people not getting wages. That has never been said to us, but in terms of the team and club, whether it is Murray Park, Ibrox or strengthening the team we will need investment. And sitting with both my manager's and supporter's hat on the more we can get the better. I'm delighted that now, for the first time, we have a serious opportunity of investment from a couple of areas. It has been well documented that Mike Ashley has increased his share holdings and it has been well documented there has been a series of meetings with Dave King's team and the board. I would be extremely hopeful that a compromise and a deal can be done, involving all parties, and allowing us to move forward."

The sight of King jetting in from South Africa has raised spirits among fans after years of uncertainty and McCoist reckons his affinity with the club coupled with Ashley's business acumen could be a good for Rangers.

He said: "I definitely think that [Dave being a Rangers fan] is a big plus and a big positive for supporters, but whether it is the be all and end all then I'm not sure. The most important thing is the club moving forward in the right manner. There definitely seems to be an affinity towards Dave because he is a Rangers supporter. On the contrary, you have one of the greatest businessman in Britain over the last 10-20 years in Mike Ashley.

"If Mike was to become involved, look at it as a business proposition and move it forward then that would obviously be a good thing."

Having witnessed a series of false dawns in recent years, fans remain sceptical about the latest developments. McCoist is upbeat, however. "All of a sudden now we have two fantastically respected businessmen hovering about the club with a view to taking it forward. There is reason for cautious optimism."