Ally McCoist has warned Liverpool legend Steven Gerrard that he will face a difficult task if he takes up the challenge of becoming the manager of Scottish Premier League club Rangers.

Should he take the job, he will be following in the footsteps of another Liverpool legend Graeme Souness, who started his managerial career with Rangers in 1986.

McCoist said: "You could give it to Guardiola, Mourinho, Steven Gerrard… If they don't get the money to get better quality players, they will continue to finish second behind Celtic. That is the bottom line.

"I have heard people make comparisons to 1986 when Graeme Souness took his first manager's job but the only comparison I can see is they are both former Liverpool greats.

"When Graeme came to Rangers, he played and was absolutely sensational. And he was backed in the transfer market. Two of his first three signings were England captain Terry Butcher and the England goalkeeper Chris Woods. That is where the similarity ends.

"Put it this way, I don't think Steven Gerrard will get the financial clout to go out and buy the England captain."