Former Celtic midfielder Kris Commons has revealed in his The Scottish Daily Mail column that the Ibrox job is a turn off for the best managers.
Rangers are without a permanent boss since sacking Pedro Caixinha almost a month ago, and up to 8 candidates have been linked with the position.
Many expected an appointment over the last international break, but Graeme Murty has remained in interim charge.
According to Commons, the scale of the salary on offer and lack of funds to spend in January are keeping managers away from signing for Rangers.
“The word is there’s minimal money to spend on the team in January”, Commons wrote.
He continued: “There are players there who are already on huge wages and aren’t performing.
“And, from what I’m hearing, many managers who would still be interested are being put off by the scale of the salary on offer.
“If you wrote it all down, and you had a good reputation to defend, you would be inclined to stay away.”
These shortcomings aren’t because the club aren’t willing to spend.
There are no just available funds going by Commons’ words, who concluded: “If you put the investment in and do get the right man, the benefits will come.
“But, at the minute, Rangers don’t seem to have that kind of money to invest.”
The Light Blues can’t compete with Celtic for now, and will most likely settle for Murty till the end of the campaign if they aren’t able to meet the demands of their managerial targets.