ALLY MCCOIST reckons Rangers will be consigned to second spot in the Premiership for years to come unless the Ibrox board back boss Pedro Caixinha in the transfer market.

The Light Blues crashed to their second 5-1 defeat of the season to Celtic on Saturday as Brendan Rodgers’ side eased to Old Firm victory at Ibrox.

Rangers are 36 points adrift of the Hoops in the Premiership standings and are now closer to fourth-placed St Johnstone than Aberdeen in second.

Caixinha will be given money to spend in the summer to add to his Gers ranks and former boss McCoist knows investment in crucial in the coming months.

He said: “I hope [he gets funds], I really hope so. My heart goes out to the Rangers supporters right now because the last three or four years, it has been really, really tough for the supporters.

“But, unless they find funds, I have said for 18 months, nothing has changed. Rangers at this moment in time will plod along, be second, third, maybe get to a cup final. That is what they will be.

“But if they want to get back to the level that they once were and competing on a regular basis long-term against Celtic then they have to spend and find finance.

“When Walter, and I was lucky enough to come back with Walter as assistant manager in 2007 and Paul Le Guen had just left, the first thing that we did was spend money.

“Whether it was £2million on (Carlos) Cuellar, we got (Steven) Davis for a couple of million, (Steven) Whittaker, (Steven) Naismith a couple of million.

“Now, all that adds up. But you bring quality in and within twelve months you have got a side that are not only capable of getting to a UEFA final but certainly capable of winning the league, which they did.

“The bottom line is that if Rangers don’t find finance it is going to take them an unbelievably long time to come back to challenge Celtic. That is the case as I see it.”