ALLY MCCOIST has hailed Nathan Patterson's move to Everton as "good business all round".

The former Rangers starlet completed his transfer to the Premier League club on January 4 with the Ibrox club receiving a club-record fee.

Patterson, 20, was a regular squad member for both Giovanni van Bronckhorst and former Rangers boss Steven Gerrard but was saw limited game-time with James Tavernier the first-choice at right-back.

But that didn't stop Everton from shelling out a major fee for the fully-fledged Scotland international with McCoist saluting Rangers' negotiations to receive "tremendous money".

Speaking on talkSPORT last week, he said: "I do like him, I think it is good business all round.

"And I think it is tremendous money for someone that has only played 15, 16 games and effectively wasn't in the team to tell the truth.

"[James] Tavernier was keeping him out of the team.

"That said, really exciting boy, great going forward, great to watch and I wish him all the very, very best."

Radio co-host Alan Brazil was quick to question the transfer, but not Patterson's ability or potential, as he pondered Everton's signing policy, responding: "Without putting a spoke in, and nothing to do with the kid...a full back?

"Is that what Everton need to get themselves out of trouble in the top half of the table? With the greatest respect?"

Ibrox legend McCoist agreed that Everton's problems wouldn't be fully solved by Patterson's arrival as he demanded more from the Toffees strikers.

But he insisted talented Patterson will be a top signing for the Premier League side in the long-term.

"What they need is to get Calvert Lewin up and running and Richarlison, the two of them, that's exactly what they need.

"And they do need to defend better. But one thing I will say long term is that he will be a good signing for Everton."

Patterson was included among the substitutes for Everton in the dramatic extra-time FA Cup win over Hull but he is yet to make his debut for his new club.