The 28-year old Brisbane Roar captain is reportedly close to joining the Scottish champions for a cut-price of £320,000 and the club have made it clear that the Australian midfielder is a certain transfer target.
"The 28-year-old midfield star is firmly in McCoist's sights and a deal could be done this week. McKay is in the UK as Australia have a friendly international with Wales on Wednesday night and Rangers would love to do a deal before the Europa League play-off deadline on Thursday.
"He also played beside Charlie Miller who was also impressed by his ability.
"There are work permit issues but Rangers hope to overcome them."