McCoist was speaking at the end of another week of off-field developments which look certain to affect the future of the Ibrox club.
He refused to be drawn on the three main Rangers fans' groups backing the group of shareholders fronted by wealthy businessman Jim McColl.
He also declined to comment on the prospect of former director Dave King, who arrived in Scotland for talks yesterday, becoming involved again.
But McCoist did admit a large injection of funds would be needed if Rangers are to compete with their Old Firm rivals and play at the highest level in Europe.
He said: "We've lost in the region of £50million worth of players. You can argue about the figures, but players like Whittaker and Jelavic have gone.
"We've replaced them with free transfers. So it's going to take time to get back to the level we want to be at.
"My own opinion is that there will need to be a cash injection. Of course there needs to be a cash injection to raise the bar and raise the quality again.
"You can't lose all those players and expect, in three or four years, to be up challenging where you were at Champions League level. That's not going to happen.
McCoist added: "We also need to go in challenging when we get back to the top flight. I hope that is 18 months, two more league campaigns, away. If it is, fantastic.
"But whenever it comes I'm of the opinion that we have to go in and challenge.
"There is no point in us going in and just thinking about top six. That's no disrespect to the other teams in the country and I hope they wouldn't see it like that.
"But the standards at our football club, what is expected and has always been expected, are different.
"We've always been expected to challenge for the division. That has always been the case and that should never change."
King, the Glasgow-born businessman who previously invested £20million in Rangers, will meet with the main protagonists in the power struggle during his visit to Scotland. McCoist, who knows King from his previous involvement with Rangers, expressed hope he is able to bring stability to the situation at the Ibrox club.
"I've known Dave for a long time, obviously since he was here as a director of the club, " he said. "But I'm not saying that I would like see this or that happen.
"I just hope the meetings he has are productive. I'll maybe see him at the game."
McCoist is hoping to have Arnold Peralta and Lee Wallace in his team in the SPFL League One game against East Fife at New Bayview this afternoon.