Ally McCoist reckons Steven Gerrard or Jose Mourinho could "fit the bill" to become next Rangers manager.
The Ibrox hero is confident either of the football legends could take over from Barry Ferguson and handle the role.
However, they'd need "proper financial backing" in order to make a success in Govan, according to McCoist.
The former Rangers striker has no doubts that ex-Rangers boss Gerrard or Mourinho would be of the right stature to become manager and would bring the necessary attributes.
But, without significant investment in the playing squad, McCoist is unsure over whether they could bring success.
The pundit told talkSPORT Bet: "Yes, I think both could fit the bill in terms of stature and what they’d bring to the club and Scottish football in general.
"But they’d both need proper financial backing. The current squad just isn’t strong enough."
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On recruitment, McCoist called on Rangers to be more adventurous in scouring the globe for new transfer signings.
He added: "It has to be measured - it’s nothing like the resources down south. But there are markets out there.
"Celtic have done brilliantly with the Japanese market - signings like Hatate, Maeda, Kyogo.
"Rangers need to be more adventurous. Look at Scandinavia, or even the U.S. market. They can’t compete with the Premier League, but they can be smarter about recruitment."
Regardless of whether Gerrard could return to Rangers, McCoist has insisted it is imperative the Liverpool legend chooses his next role carefully after a period at Al Ettifaq in the Middle East.
"It’s absolutely vital that his next job is the right one," said McCoist.
"It didn’t quite work out at Villa or in Saudi. It’s similar to Frank Lampard—his move to Coventry has been crucial in getting his managerial career back on track.
"Steven’s in that same position. His next step needs to be spot on."
