Ally McCoist says Rangers need significant investment
Rangers are currently in the market for a new boss following the surprise departure of Warburton last month.
Portuguese coach Pedro Caixinha, who is in charge at Al-Gharafa Sports Club in Qatar, is currently the favourite for the Gers hotseat.
And former Rangers striker and manager McCoist believes the Scottish giants will need to offer their new boss heavy investment in new players.
Pedro Caixinha favourite for Rangers hotseat
"With the greatest of respect, it doesn't matter who comes into that job at the moment, if it's Walter Smith, Jose Mourinho or Alex Ferguson, they need help," McCoist said.
"They need financial help and financial investment in the club and the team.
"Clearly, I do not want the club to go down the route they did before, through administration and liquidation.
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Express Sport takes a look at some of the greatest players who have played in both the Premier League and the Scottish Premier League (now Scottish Premiership)
"But at that particular time I know for a fact the debt they had at the club was manageable.
"There were other reasons from us at that time but I am not advocating that at all in terms of putting the club in jeopardy.
"That said…the hardest thing is providing it and getting the investment but that is what is required to help the next Rangers manager, whoever he may be."