MARK WARBURTON insists Rangers won’t be ‘reckless’ in the transfer market as they attempt to close the ‘huge’ financial gap to Old Firm rivals Celtic.

Former Ibrox boss Graeme Souness has called for the Light Blues board to back Warburton in the transfer market and give him the cash needed to mount a bid for the Premiership title.

Rangers are seven points off the pace in the top flight and suffered their second derby defeat of the season on Sunday as they missed out on a Betfred Cup final spot.

But Warburton knows Rangers have to take a longer-term view if they are to overhaul the Hoops and reclaim top spot in Scottish football once again.

He said: “I’ve got to be really careful how I answer these questions. Every time I’m asked it, it’s a trap.

“Is there a gap? There is a huge financial gap. We’re aware of that.

“But I saw some comments again saying: ‘Warburton worked in the City – he should understand that.’

“What a nonsensical statement that is. Of course I understand the implications.

“I’m not a rocket scientist but I’m not a fool. So of course I understand the implications.

“When a near rival has had European football for the last four, five, six years and the benefits of that, when they have a budget probably two-and-a-half, three, three-and-a-half times what we have, we have to close that gap.

“But it won’t be done overnight. It would be reckless of the club and the board to try to close that gap overnight. We’re not going to close it in six months.

“What we have to do is keep constantly improving, improving our performances, by investing shrewdly and astutely in players.

“And hopefully as the weeks and months pass, we can close the gap.

“But we recognise and very much respect the fact that, at the moment, we can’t match Celtic financially.”

After four years in the lower leagues, many fans had hoped Warburton’s side could challenge for the Premiership crown at the first time of asking this term.

Souness claimed the Gers are five years behind their Old Firm rivals at present but Warburton will continue to put solid foundations in place at Ibrox.

He said: “Graeme is a smart football guy but it’s his opinion. I know what we have to do – we have to work hard to close the gap.

“We know there is a financial gap and there has to be one. But what Rangers should never do is spend recklessly to try to close that gap.

“You have got to have strong foundations and ensure the club is in good health going forward. Hopefully we can play a part in that.”