Rangers boss Ally McCoist has confirmed he spent “a few quid” on buying up shares in the club’s open offer this month.

The club raised £3.13 million in their latest rights issue, falling short of their £4m target, but McCoist revealed yesterday that he dipped into his own pocket to invest.

Rangers announced that several plc directors had increased their shareholdings — most significantly James Easdale, who purchased 215,606 of the 20p shares.

The Ibrox board had set a minimum target of selling 15 million shares and exceeded that by 667,860.

McCoist — who already owned over a million shares, giving him a stake of just under 2 per cent — said ahead of tonight’s League Cup tie with Inverness: “I did invest. Without going into too much detail, I just thought it was the right thing to do.”

Asked if he had ploughed a “substantial” sum into the rights issue, he replied: “It depends how you would look on it as substantial. A few quid, yes.”

The money raised through the rights issue should allow the cash-strapped Scottish Championship club to pay their September wage bill and therefore avoid a possible points deduction — and also appears to have lessened fears of another administration event.

But the Ibrox directors are still likely to seek new powers to raise even more money from fresh investors when the club’s annual general meeting takes place later this year in a bid to solve their cash-flow crisis.

McCoist, though, was just relieved to hear the club would be safe for the time being.

“Obviously I am pleased,” he said. “Anything that brings funds in when they are required has to be a good thing.

“As a squad, we have tried to distance ourselves from it because we have to focus on things we can alter and that is performances and results.

“We are all aware of the things that go on within the club at higher levels but I must admit that I’m thrilled with the way the boys have shut it all off and concentrated on winning games.”