New Rangers boss Philippe Clement has won his opening three league games, which has boosted confidence inside Ibrox.
Celtic’s draw against Hibernian cut down their lead to just five points at the top of the Scottish Premiership table, though they took the opportunity with Rangers not playing this weekend to boost it to eight points.
What seemed like a procession a few weeks ago is now back alive again and Rangers again believe that they have a chance of gunning down Celtic at the top of the standings.
Ferguson stressed that the title race is not over, while conceding that both the two big Glasgow clubs are not as good as they were last year.
The Rangers legend insisted that the title race will go down to the wire and neither team will win it at a canter this season.
The former Rangers captain said on the Go Radio Football Show when asked if he believes the title race is over: “No, I said that – there is no chance it’s over.
“I don’t think Celtic are as good as last year either.
“Neither are Rangers.
“I don’t think somebody is going to win it with four or five games left.
“I honestly don’t believe that.”
The clashes between the two clubs in the league this season could prove pivotal in deciding the destination of the Scottish Premiership title.