Rangers chairman David Murray has told Alex McLeish that there is cash for him to spend.
The club splashed out a fortune on their new state-of-art training complex and the sales of Giovanni van Bronckhorst and Claudio Reyna suggested that the transfer kitty was dry.
But when McLeish took over from Dick Advocaat on Tuesday, Murray told him to ignore the speculation and that their was money to spend on new players.
Murray said: "Dick will be spending more time travelling and we have money to spend and Alex knows the budget.
"Everybody writes our death wish, but people tend to forget that I'm not short of a bob or two.
"We as a club have got to take on Celtic and compete with them and we feel the combination of what we're doing will enhance it."
But former Hibernian manager McLeish will not be knocking on the chairman's door for money immediately.
The 42-year-old reckons there is no need for him to go out and sign players just yet, which will give him time to assess the squad before making the plunge into the transfer market.
"I don't see a lot of weaknesses in the side," insisted McLeish. "They have quality players and have a new system which has been working well for them.
"The players have that bit between their teeth right now and it will take time for me to get my feet under the table.
"It will take time to assess the squad, but I don't think there is any need for me to take action or decisions quickly."
Despite that, McLeish has already spoken with Advocaat about possible transfer targets.
"We have already discussed possible players in Europe and the UK that could do a job for Rangers," said McLeish. "But that will be done over a period of time."
Advocaat has moved upstairs into the role of director of football, and while Aberdeen legend McLeish will be glad to take advice from him, the new manager will do the job his way.
McLeish continued: "I've got to be strong and thick skinned at times and Dick and the chairman will help in that respect. We're in it together.
"If I see a player and I think he's good enough for the team and squad, I'll recommend we sign this guy.
"The way I have worked at other clubs I need to go and see players, and it may be that I will go away and have to see the players myself.
"But I'm sure the players Dick recommends will be players well known to me in terms of the world market."