RANGERS gaffer Ally McCoist has been handed £10million to spend on players following the Ibrox club's successful share issue.

Over £22m has been ploughed into the Glasgow giants and a huge chunk of that will go to the Ibrox boss to strengthen his squad.

McCoist will be able to splash the cash after the 12-month transfer ban imposed on the club by the SFA comes to an end.

Gers chief executive Charles Green confirmed: "Of the £22m, £10m is put to one side for Ally.

"Of course, we can't buy players at the moment, we can't do that until January 2014.

"But, between now and then, we'll also have another season's worth of season ticket sales so the cash position will increase. We're not saying it's £10m and only £10m. There is perhaps another £20m there.

"When we are allowed to go into the market, this club will take the right players and the right action."