ALLY McCOIST is confident an alliance between Dave King and Mike Ashley can broker a solution to Rangers' off-field problems 'sooner rather than later'.

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

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

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

McCoist hopes a quick compromise can be found to the battle for control, and said: "It's fantastic they are sitting down and talking.

"I have said all along that at some point in the near future we are going to need investment.

"You hear concerns about money running out and people not getting wages.

"That has never been said to us at all, but in terms of the team and club, whether it is Murray Park, Ibrox or strengthening the team, we will definitely need investment.

"And, sitting with both my manager's and supporter's hat on, the more investment 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 that 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 for talks has raised the spirit of the Light Blue legions after years of uncertainty.

And McCoist reckons his affinity with the fans and Ashley's business acumen could be the best way forward at Ibrox.

He said: "There definitely seems to be an affinity towards Dave because he is a Rangers supporter.

"On the contrary, you have arguably one of the greatest businessman in Britain over the last 10, 15, 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."