Rangers boss Ally McCoist has told Celtic counterpart Ronny Deila it would be dangerous to write off the Ibrox men.
The Old Firm rivals will both go into the hat for Saturday's League Cup semi-final draw - raising the prospect of a first Glasgow derby since the Light Blues were liquidated in the summer of 2012.
McCoist has already admitted he would take "anyone but Celtic" as he looks to steer Scottish Championship side Rangers to their first major final under his management.
But he stressed Deila was wrong on Thursday to suggest Rangers are weaker than Premiership outfits Aberdeen and Dundee United, the other teams through to the last four.
The Hoops boss claimed the "best teams are in the top division", but McCoist chose to politely disagree with the Norwegian's assessment.
He said: "Ronny is entitled to his opinion and maybe it makes sense because we are the only team from outside the top division. I can understand Ronny's logic, yeah.
"I don't think it's unfair but then I don't necessarily agree with it. I can understand where he is coming from. In most cases you would think a team from a lower division that is left in a competition with three teams from the league above is the weaker side.
"Ronny would be 100 per cent right in his beliefs if it was a normal playing field. But I don't think anyone can argue that in recent years, Scottish football has been anything but a normal playing field. We have got three of the top five clubs in the country playing in the division below the top flight.
"So that doesn't make it a normal playing field."
Rangers have knocked out top-flight opposition twice on their way to the semi-finals.
Inverness - last year's finalists - were beaten 1-0 at Ibrox last month, before the League One champions repeated that scoreline when they saw off William Hill Scottish Cup winners St Johnstone on Tuesday.
McCoist says that is the basis of his confidence.
"Celtic are favourites," said the Ibrox boss. "Surely everybody will accept that? I think we are the outsiders along with Aberdeen and United.
"That's not mind games, it's the definite opinion of football fans.
"But we fancy our chances. I believe Aberdeen and United are two of the better sides in the country on their day but we have proved this year that against teams from the top flight, we can handle the occasion and we now look forward to the draw."
Striker Kenny Miller also believes Rangers can make Deila eat his words.
The former Celtic frontman said: "It's a game I never thought I would get to play in again, so whether it be in a semi or a final, it would be one I'd look forward to.
"Let's be honest, they would go in as favourites. They are the reigning champions of the SPL, playing at the higher level, but we would go in confident, as we do with every game.
"We are in the Championship, we are the lowest-ranked team, so [what Deila said] makes sense a little bit. But only time will tell who the strongest is and who the weakest is."
Rangers return to Dumbarton on Saturday for a Scottish Cup third-round tie just a week after beating them 3-0 at the Bet Butler Stadium on league duty.
But once again the build-up to the match has been overshadowed by events in the Ibrox boardroom.
Mike Ashley has tightened his grip on the club after the Newcastle owner's £2million loan was accepted.
The terms allow Ashley to put two of his own men on the board, while two of his close allies - Derek Llambias and Barry Leach - have been hired as consultants.
Non-executive chairman David Somers has assumed executive responsibility for the time being as he leads the search for a new chief executive following Graham Wallace's resignation.
But McCoist said he had still to hear from Ashley's people directly.
"I wouldn't expect to [speak to Ashley or his people] but I'm obviously available to speak to any board members or shareholders should they want to," McCoist said.
"I do have dialogue with the chairman. I spoke to him on Monday and then yesterday again. He's keeping me up to speed on what the board are doing and that is fine."
Meanwhile, Rangers goalkeeper Steve Simonsen has been all but ruled out of the Light Blues' William Hill Scottish Cup third round clash with Dumbarton.
The Englishman suffered a head knock when he collided with a post during Tuesday's League Cup win over St Johnstone, meaning Lee Robinson is set to take over in goal at the Bet Butler Stadium unless Simonsen can make a last-minute recovery
Injured duo Marius Zaliukas (knee) and goalkeeper Cammy Bell (shoulder) remain on the sidelines.
Provisional squad: Simonsen, Wallace, Mohsni, McGregor, Shiels, McCulloch, Macleod, Clark, Law, Black, Templeton, Peralta, Boyd, Smith, Robinson, Faure, Miller, Crawford, Daly, Foster, Aird, Hardie.
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