The Gers manager has vowed to rebuild the famous Glasgow club regardless of the league they start in next season and believes supporters have suffered enough
The Ibrox club’s application to re-join the Scottish top flight was rejected by a significant majority of top-flight clubs on July 4 and attention now switches to the SFL’s vote on accepting the newco on July 11.
Gers boss McCoist has already expressed his willingness for the club to rejoin at the bottom of the league ladder in SFL 3 especially if it leads to the end of sanctions currently being placed on the club and is adamant the club will rebuild.
He told Sky Sports: "We have to start rebuilding and indeed replacing, it was a devastating blow, but one we will recover from.
"We have to rebuild, so SFL3 would give us a better chance to rebuild.
"They might want to put us into SFL1 with more sanctions. I don't know if that's the case but we've got a transfer embargo hanging over us.
"I have had something in the region of six players turn up for pre-season training, two of them would be considered regulars last year.
"It's impossible. How can I have a transfer embargo with six players? That is just absolute madness. We need to bring in 10, 12, 14 players. Since January we have lost in the region of 21 players.
"All I would ask for is to be treated the same as everyone else.
"We have been deducted 10 points, we were fined £160,000, we had our Champions League place taken away from us, we are out of Europe for another three years. That's quite a lot at the moment.
"I think now is perhaps the time to say 'okay, we have been punished'."
The former Scotland international also spoke of his personal distress at the events that had led to the club's current predicament and believes that fans of the club and of Scottish football as whole have suffered immensely.
"I said at the SPL meeting, believe me, no one is more angry, disappointed, embarrassed, apologetic, than me," the 49 year-old added.
"This should not have happened to our football club. Our fans more than anyone deserve an apology. They have been kept in the dark. It's appalling, the people suffering most are our fans.
"They have paid for hotels, buses, boats and all of a sudden the trips have been cancelled through circumstances certainly outside their control and outside our control.
"Again, who does it hurt most? Our supporters. We have all suffered enough. Everyone in Scottish football has suffered."