The chairman has promised they will look to strengthen in the summer transfer window.
The Gers are set to return to the Scottish Premiership next season having secured their promotion last week.
They are confident of being challengers to the title as well, with the cup win over Celtic in midweek showing they many not be too far away from the top.
Nonetheless, new signigns will be needed and King has promised them, although he admits the potential of European football may change their plans considerably.
"We still have a plan to improve on the team during the summer. We are back, but we won't relax about it,” he told the Rangers website.
“If we're going to challenge for the title, it is important that we still strengthen the squad and get a few more players in
"I had a chat to Mark in the dressing-room and I just said, 'let's see how the final goes and we might need to kind of plan differently some of the player acquisitions in the close season'."
That cup clash with Celtic will certainly have given Rangers increased confidence ahead of next season.
Many saw the semi final as the perfect opportunity for Mark Warburton’s side to analyse how far they are from the current champions and their display against the Bhoys showed they may not be too far away.
Nonetheless new signings will be welcomed and they are unlikely to find it difficult to bring new players to Ibrox either, with the prospect of a title challenge against Celtic a tantalising one.