ALLY McCOIST today praised Charles Green for delivering on the promises he made to rebuild Rangers.

The Ibrox chief executive this week sealed a £22.5m share offer and has promised to hand £10m of those funds to McCoist to splash out on new players.

Green has also insisted there will be a further £20m for the manager to land big-name targets if season tickets are snapped up for the next campaign as he attempts to lead Rangers back to Scottish football's summit.

McCoist said: "The best way to put it is that he is actually doing what he said. Our support and staff have to be encouraged that he is backing up what he said he'll do. And that's not something we've had recently, so that has to be encouraging. He's come in and all of a sudden the staff have got somebody, the staff have got somebody that they can see is fighting their club's cause, so that has to be positive."

McCoist is pleased to hear he will have money to spend on the team but he added: "We've not got it yet!

"Having been down that road before – not that I'm doubting Charles – he probably went as public as any chief executive in terms of what support he'll give the manager, so that's fantastic.

"Obviously, there was a lot of things said the last time, which didn't come to fruition, so without calling me an old sceptic, I'll wait to see what we get.

"There's a lot of work to be done, but I'm encouraged that Charles went public with it."

McCoist also believes Green has been blown away by the passion of the Light Blue legions.

He added: "Looking at it, I would have to say that Charles has been very, very pleasantly taken aback by the size and the support of the club.

"He came in and was honest enough to say he hadn't been a Rangers fan, but I don't think there's any doubt now he's as big a Rangers fan as there is going.

"There are a lot of reasons, but one of the major reasons is the faith the fan base have put in him."

Meanwhile, Elgin City chairman Graham Tatters has been fined £1,000 by the SFA for the Rangers ticket fiasco.

The meeting between the two clubs, which was originally set to take place at Borough Briggs on November 25, was shelved after Elgin sold too many tickets.

He admitted a rule breach at a disciplinary hearing, where a £5,000 fine was imposed, with £4,000 suspended for the season. Elgin have already been fined £25,000.