Rangers boss Ally McCoist has revealed that he would welcome any investment into the club from Newcastle United owner Mike Ashley.

Ashley is in talks with chief executive Charles Green over a possible investment in the newco club, and McCoist believes that any move involving the Sports Direct owner would be a wise one.

"Of course I am [encouraged] because the one thing about Mike Ashley you would say right away is that he looks a very astute and clever businessman," said McCoist.

"You could argue there's not too many of them involved in football but he certainly ticks the box.

"If he can bring his expertise and some of his wealth with him to support and push the club forward, I'm absolutely delighted with that."

Rangers were demoted to the Scottish third division after entering liquidation this summer, and will begin their campaign away to Peterhead tomorrow.