He was shackled by some financial constraints – an early indication of the troubles that were to come – when he succeeded Walter Smith.
Then in the summer he had to work quickly to put together a squad after the Ibrox club just managed to emerge from their financial difficulties.
But have the players McCoist has signed as Gers boss been a HIT, a MISS or is the JURY OUT?
Juan Ortiz (MISS) The Spaniard played a handful of games before returning to his homeland to play for Almeria on loan. Moved on to Granada in the summer.
Lee Wallace (HIT) The £2million the Scotland left-back cost Rangers from Hearts raised eyebrows at the time. That has, though, proved to be money well spent.
Alejandro Bedoya (MISS) The American winger hardly featured in the first team in his time in Scotland due to injury. Looked promising when he did play. Moved to Helsingborgs last year.
Dorin Goian (HIT) The Romanian internationalist's stunning early-season form faded badly. But the centre-half was popular with the fans. On loan at Spezia in Italy.
Carlos Bocanegra (HIT) The fact the United States internationalist was asked to captain Rangers spoke volumes of his success in Scotland. Now at Santander in Spain on loan.
Matt McKay (MISS) The Australian winger played very little during his time in Scotland. He moved on to Busan Ipark in South Korea in February.
Mervan Celik (MISS) The Swedish forward was the Ibrox club's only signing last January. Left for free in March after just a handful of appearances.
Dean Shiels (JURY OUT) The Northern Ireland internationalist has often struggled with injury this season. Has had good, bad and indifferent games.
Ian Black (JURY OUT) The tough-tackling former Hearts midfielder has been subjected to some harsh treatment himself in the fourth tier this term.
Emilson Cribari (MISS) The Brazilian centre-half has been fine against lesser opposition. But he has often struggled. Is limited in the air.
Anestis Argyriou (MISS) The Greek defender started the season brightly. But he is basically a squad player. Fills in when one of his team-mates is injured.
Sebastien Faure (MISS) Netted his first goal for Rangers against Berwick last month. Still, the French player has not impressed greatly.
David Templeton (HIT) The winger has enjoyed some outstanding games since signing from Hearts in August. At his best, he is a real crowd pleaser.
Francisco Sandaza (JURY OUT) The Spanish striker spent several months out injured last year. Has been unable to establish himself as a first-team regular.
Kevin Kyle (MISS) The big hit man has rarely been fit.