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ALLY McCOIST has not been ordered to start selling off his highest-paid players.

Record Sport can reveal the Rangers manager has held a series of crunch talks over the last 48 hours with chief executive Graham Wallace who is determined to drive through a range of costcutting measures in order to stave off another financial crisis.

But although the talks between the pair are expected to continue over the coming days, so far McCoist has not been told to raise cash by selling off star man Lee Wallace or any of his other big earners.

His current budget sits around the £6million mark and the manager has made it clear to new CEO Wallace that any further cuts to this sum could derail his attempt to lead Rangers back into the top flight at the first time of asking.

But Wallace must find a way to balance the books after 18 months of spending which has seen Rangers burn through almost all of the £22m raised from Charles Green’s IPO of December 2012, as well as two tranches of season-ticket cash worth in excess of £16m.

(Image: Manchester City FC/Press Association Images)

It’s estimated Wallace will need to find savings of around £1m a month just to steady the ship but so far McCoist has not been ordered to oversee a cull of his first-team squad.

If Wallace adopts a different stance in the coming days then his relationship with the manager, which has been relatively warm, could soon become a great deal more strained.

Meanwhile, Bilel Mohsni says his furious red card bust-up at Airdrie was a natural reaction, as he blasted the rough-house tactics of Rangers’ lower league rivals.

The Gers defender broke his silence after copping a second yellow card for a touchline rammy with Airdrie players and boss Gary Bollan after Rangers’ 1-0 win on January 2.

Moshni told the club’s website: “After the Airdrie game, I was happy we had won but I was a little bit upset as we had taken a lot of kicks.

“Their right-back swore at me so I swore back at him which I know was stupid but I did it. Their manager walked straight to me and was swearing at me so I swore back at him too.

“I reacted and other players will react in the future because we are human beings.”