Rangers manager Ally McCoist believes the club are doing "reasonably well" in financial terms despite reports the fallen Scottish giants were seeking a £1.5 million loan($2.5 million, 1.8 million euros), he said Monday.

Rangers, Scotland's most successful club, were demoted from the top flight, went into administration in 2012 and, after a new operating company had been formed to take over the running of the Glasgow giants, were demoted into the old Third Division -- Scottish football's fourth tier -- for the 2012/13 season.

They are now currently top of third-tier League One but concerns remain among supporters that a second administration could lead to fresh penalties which could stop their rise up the leagues and a return to the top flight.

Those fears have not been eased by the fact Rangers lost £14.4 million ($30 million, 17.5 million euros)in their first 13 months of trading as a new company.

But McCoist, commenting about the loan, tried to re-assure fans by saying: "It's not concerning. I was down in London on Thursday at the board meeting and, although I wasn't involved in the business side of the board meeting, I was involved in the football side.

"I was told it was part of the business plan so, if that's the case, then I would think that's fine."

He added: "I can only say to the supporters that I think things are going reasonably well."

Last week Rangers chief executive Graham Wallace categorically ruled out a second administration.

And McCoist, a former Rangers and Scotland striker, urged fans to accept Wallace's words.

"It's been a ridiculously tough two years for the supporters and everybody who cares about the club," McCoist said.

"I can understand concern because, myself included, we only want what's best for the club. But, being at the board meeting and discussing football matters, it was very, very positive."