DAVE KING insists there is 'no upper limit' to the budget the incoming manager of Rangers will have to work with to rebuild the Ibrox squad.

The Light Blues chairman confirmed yesterday that an appointment is likely to be made next week as the board continue their search for a boss to lead the Gers' Championship title challenge.

King insisted Rangers would be willing to pay compensation to land their man and that a previous connection with the club was not needed to take office at Ibrox.

Rangers will play their first competitive game of the season on July 25 and whoever is named as manager has a huge task on his hands after a host of players - including captain Lee McCulloch and striker Kris Boyd - were released last week.

And King is happy for money to be spent in the right areas and in the right way as the board get set to fund a long-term rebuilding job on and off the park.

He said: "The limit is getting players. There's no upper limit. I can say that because we're talking in a sensible environment where the guy knows what he's doing.

"He's not going to go and sign [Cristiano] Ronaldo. We all understand that.

"He's doing it within a mandate where he knows what we are as a football team.

"I'm saying there's no limit in terms of if he comes along and says 'I've got a guy here and I think I can get him and he's going to cost x thousand pound a week, and he's not in the budget but I think he'd make a difference to the club and he'd help us over the next couple of years', I'd say take him.

"We're not going to say no, you've already spent your money.

"If a good player comes up, and we're coming to December and we're leading the league by 15 points, and he says 'this player's come up, we can get him now, but we won't be able to get him in the summer' I'll say get him now.

"You don't have a budget, just come, give him motivation to buy a player who will be an asset for the club in terms of the plan for the next three years.

"I'm not going to say to him you've used your budget this year ... you'll have to wait until next season'.

"If he comes and makes a reasoned argument, and it's a reasonable salary for the player, then..."

Despite having no boss and only a skeleton squad in place, Rangers have already been made firm favourites for the Championship title next term.

King has admitted that the Light Blues may have to 'over-invest' to get back to where they want to be, but the chairman is not concerned at going down a potentially fraught financial path.

King said: "It's not a worry for me because I'm involved in the process now. I wasn't previously.

"I'm in a position to influence that and make sure we go about it in the proper manner.

"We need to make sure that while we are willing to spend the money, I use the word 'invest' deliberately. We are going to make an investment."

While King and other wealthy fans are set to plough more money into Rangers, rank-and-file supporters will have to play their part in the rebuilding job by stumping up this summer.

Many punters could hold off parting with their cash until they see a manager being appointed and new players being signed.

King said: "I think if you look at the season coming up, we're looking for two things.

"One, we're saying to the fans please give us your initial support and come and buy the season-tickets because you love the club and come and do it in any event.

"But also we know that during the course of the season we have to give you a far better product week in, week out.

"We've got to give you a winning football team.

"And to do that we need better-quality players.

"So we're hoping to offer the supporters a better experience and get Rangers back to what they have been for the past 140-odd years."