Rangers owner Craig Whyte revealed earlier this week that the club were still working on moves to bigger leagues.
“Could it happen? Of course, absolutely. Television has a far bigger say in the proceedings than a lot of people would imagine,” said McCoist.
“A lot of things would have to happen for this to happen, lots of discussions.
“I, for one, am not going to say it is never going to happen.
“From Rangers’ and Celtic’s point of view it would be very encouraging. It is obviously a completely and utterly different market.
“If Rangers and Celtic could get involved in that, the financial side would be absolutely fantastic.”
