Reports suggest the Newcastle owner is in talks with Rangers chief executive Charles Green over a lucrative deal that would promote his Sports Direct retail firm.
A similar move proved to be unpopular with Newcastle fans and Ally McCoist expects the Ibrox faithful to be split on the issue.
Ally McCoist: "I can appreciate it's a really delicate issue and I would imagine it would split fan opinion.
"I've got to be honest and say I'm pretty open-minded about it.
"At the same time, I definitely think the fans would certainly have to have a voice and an opinion on the final decision.
"We saw the reaction of the Newcastle fans when it happened down there and I'd imagine a good percentage of our support would feel the same way.
"My own opinion is that I'm neither for or against it - I'm reasonably open-minded.
"I do understand the business side of it but I do understand, more than anything, history and tradition.
"I don't really know the strength of interest, that's a question you'd have to direct at Charles.
"I don't know the ins or outs or the proposal as such.
"No doubt, when I sit down with Charles over the next couple of days, he'll keep me up to speed on it.
"It's a decision that thankfully won't be mine. I'll have an opinion on it, the same as every other fan, but the decision won't be taken by me."
Source: Newcastle United Mad