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ambitions this year for the Champions League. If you look at what we know to be true, I think Steven has placed on record his support to the board for supporting him in the transfer window.

“I think it is also important, and supporters might not realise this, but the manner in which the board supported Steven was essentially to bridge the gap that the club has got. We are a big club with big ambitions but in a small footballing market in Scotland.”

King was the man who brought Gerrard to Ibrox from Liverpool three years ago and provided him with the first tranches of funds to overhaul a ramshackle Rangers squad. Further investment was ultimately rewarded with a historic 55th title last term and King believes the Ibrox hierarchy have played their part in increasing the budget available once again this season. King added: “In the years since I left the board, I think between Ross [Wilson] and Steven they have done a really good job in pre-identifying players, they brought some players in early.

“I think it would be a fairly obvious calculation for supporters to make to look at the quality of the player that has come into the club with [Jack] Simpson, [Scott] Wright, Lundstram, Sakala and look at the players who left the club and there is no doubt that the wage bill has again gone up this season.

“As far as I am concerned, the board has certainly supported the manager in the transfer market and I think that is his true belief.

“My understanding is that he does recognise that he has been supported, but he is making more a comment that if we are going to make progress in the Champions League we need to start finding other ways to attract players.”