McCoist has been on gardening leave since being removed as manager and is still being paid whilst Dave King waits for him to do the club “a favour”.
There has been no sign of a settlement so far and whilst some quarters of the Rangers fans are angered by McCoist taking money from the club, Johnstone thinks that he is right to do so.
He said: “There is one thing that must be considered, though. If you were, say, a plumber, and you were being paid for another year under the terms of the contract you had signed, would you say: 'Ach, I love the company too much for this. I am just going to turn my back on it all?'
“Of course you wouldn't.”
He also goes on to make the point that when Charles Green took over it was McCoist who attracted the investment in 2012, although he does concede that fans may have been unhappy with the way he managed the team.
The former striker stepped up for Rangers during difficult times and as Johnstone points out, he was everything from the manager to the PR man when the club were struggling the most.
Another former player came out in defence of McCoist yesterday as well, with Andy Little explaining that his work through the tough times should be remembered by the fans and that if they are promoted come Sunday afternoon then he deserves some of the credit for the work he did.