Rangers administration: Ally McCoist rues prospect of Rangers missing Europe for first time in 32 years By MOIRA GORDON Published on Sunday 26 February 2012 03:23 WALKING out of Ibrox last week, Ally McCoist admits he felt like "slitting his wrists." It wasn't after a meeting with the administrators, though, or after another revelation about the pecuniary peculiarities of life under Craig Whyte. In a fortnight that Rangers fans would happily erase from history, it was last Saturday's defeat to Kilmarnock which got to McCoist. "Just because of the whole thing - the support that turned out - it would have been something to put a wee smile on the fans" faces at the end of a tortuous week. But we couldn't do it. That was the only reason I wanted to slit my wrists. I wasn't gutted or down about anything other than us losing that game 1-0, believe me. I promise you that on Sunday morning I was back up, raring to go. The onus is on everyone but I've got to be the first one in and positive with a smile on my face. It is a task which must be getting tougher by the day. Not too long ago his side were top of the SPL. Now they have all but written off the title and are mired in a dogfight for second place. Whether they finish there or not, the curse of administration looks to have put paid to any European involvement next season, with the SFA unwilling to rubber-stamp the licence of any club in such a precarious financial state. They still have until the end of March to put matters right but it remains an improbability according to McCoist. There is more at stake than simply Champions League qualifiers, though. There is something the club needs even more desperately than that. Cash. The difference between finishing second and third is around £900,000 and with every penny a prisoner McCoist says he has explained to the administrators in the hope that they won't get rid of too many players who could help stave off the threat posed by third placed Motherwell. I've pointed out the benefits of finishing higher up the league. The financial rewards are there for everyone to see. The stronger a squad we have, the higher up we'll be looking to finish. The last time Rangers failed to qualify for Europe was 1980 when they finished in fifth. They came close to missing out in the mid-80s as well but on the final day of the 1985/86 season a certain Ally McCoist was scoring a penalty to give Rangers a 2-0 win over Motherwell and secure a place in Europe on goal difference. That was the day Celtic scored five at St Mirren [to pip Hearts to the title]. Graeme Souness came in and was surprised at the state of our dressing room - we had just qualified for Europe and we were devastated. The history of the club is important to every supporter and it should never be undervalued. It's fantastic when you think of the club's history through Bill Struth to John Greig and all these guys. But the administrators are doing their best and while there's a chance you've always got to remain optimistic but you'd have to say there's a danger of us not having European football next season. It would be a massive blow but you'd have to say it's a distinct possibility at the moment. Unlike 1986, he knows that this time, he can't influence the outcome. It's frustrating but it's acceptable because [this time] there's genuinely nothing you can do about it. Having admitted that the deal to sign Daniel Cousin is dead, his biggest gripe is the way people were toyed with during the transfer window. Keen to strengthen the squad as they chased Celtic for the SPL crown, he says he is sorry so many people were given false hope. I've got absolute sympathy for Daniel Cousin. That and sadness. He came here to play and help and he missed out on it by a couple of hours. It was out my hands. Yeah, I had to say sorry. Although we apologised for the circumstances we're under, he's 100 per cent aware it's nothing to do with us. The trials have been plentiful for McCoist and even they could pale into relative insignificance in the weeks and months ahead. A fledgling manager and a fan of the club man and boy, many have said he got his dream job at the wrong time. He knows what it means but doesn't totally agree. The circumstances are obviously not ideal but at the same time I don't regret or wish for anything else in terms of me being here. I obviously wish for something else in terms of the club situation - that goes without saying. I just want to look back on it if I can and say that I attempted to do my best for the club and do the right thing. If I can do that, that's all I can ask for. If I could put it in the current circumstances of the club I would say that, as a Rangers supporter myself, strange as it may seem, I'm quite pleased to be here because I can certainly promise the Rangers supporters that somebody who cares about the club as much as they do is managing the club. Perhaps it's destiny. After all this is a man who made his name being in the right place at the right time.