McCoist has not returned to Ibrox since his departure in 2014.
The Gers legend was in charge at Ibrox for several years, helping them rise back through the divisions following their demotion.
Their run ended in December 2014 though when the Light Blues sacked him after numerous off field problems at the club.
He has not returned to Ibrox to watch a game since then, with his only appearance coming at an EGM last year that saw King take charge.
And responding to fans' questions about the situation, King has moved to assure them that McCoist is welcome at Ibrox any time.
“Ally’s reputation within the club is not diminished to any degree,” he told rangers.co.uk.
“I have previously invited Ally to attend games and he knows he is welcome at any time. [I] hope that he considers that the club has now stabilised to the point that we can enjoy his and his family’s company this season.”
It remains to be seen whether McCoist deems it appropriate to make a return to Rangers at any point in the near future.
The club is certainly in a much better place than when he left, eyeing a bright future under the guidance of Mark Warburton.
McCoist should want to be a part of that future and perhaps next season is the ideal time to heal the wounds created by their separation.