The League One leaders were rocked again on Thursday when it emerged the first-team players had been asked to consider - but rejected - a 15% pay cut.
That offer comes as chief executive Graham Wallace seeks ways to cut costs at the club following the £14.4million loss recorded in the 13 months up to June.
But the Light Blues manager admits he is worried that the fresh financial crisis enveloping the club may derail their promotion attempts.
He said: "The football side of things is what is keeping me sane right now.
"The boys have been terrific with the way they have gone about their business. It's to their eternal credit that they are getting criticised for only winning 1-0 and 2-0. That's how far they have come.
"But my biggest concern is that the off-field stuff will have an effect on their performances. The players in the dressing room don't deserve to be going through this."
Forfar are the only side to have beaten McCoist's side this season after taking the Glasgow giants' scalp in the League Cup back in August with a 2-1 win at Station Park.
Rangers have beaten Dick Campbell's side twice since then - including a 6-1 thumping in Glasgow at the beginning of December - but McCoist knows the Loons are no pushovers at home.
He said: "Forfar have without doubt, outwith the last time we played them at home, given us really tough games.
"We felt we played well against them last time at Ibrox and certainly it was the best we felt we had played against them.
"But going up there is a completely different environment, a completely different game. I can sense the boys in our group expecting a really tough game on Monday."