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SPFL: Ally McCoist to stay on as Rangers manager

Image: Ally McCoist leaving Rangers training ground Murray Park

Ally McCoist will remain as Rangers manager after a 40-minute meeting at Ibrox on Wednesday afternoon, according to Sky sources.

It is understood that only three people were present - non-executive director Derek Llambias, chairman of the football board Sandy Easdale and McCoist himself - for what were described as 'cordial discussions'.

Rangers confirmed on Monday that McCoist had handed in his resignation but that the notice period of his contract was 12 months. 

The Ibrox board had also announced that McCoist's salary had reverted to £750,000 for the final year of his contract; the manager had taken a 50% pay cut in January 2014 as part of a cost-cutting exercise.   

McCoist took over from Walter Smith in 2011 when Rangers were in the Scottish Premier League, but his period in charge has coincided with the club's financial meltdown.

Liquidation

Administration and subsequent liquidation saw newco Rangers start the 2012-13 season in the fourth tier of Scottish football.

Despite having to work under the shadow of constant boardroom upheaval and continued financial uncertainty, McCoist led the team to successive promotions.

But this season Rangers have struggled for fluency and trail Championship leaders Hearts by nine points, having played a game more, as they attempt to reach the Scottish Premiership.

A Rangers supporters' spokesman Craig Houston told Sky Sports News HQ:  "The accounts that recently came out were riddled with cash-flow warnings and said that we did not have enough money to see us past the end of the year.

"But I would be surprised if Ally McCoist was dictating that he had to be paid in full. My understanding was that he had handed in his resignation after he had taken a cut in his salary on the basis that that would protect jobs - but that has proved not to have been the case. So I would be surprised if he was sitting around the table demanding 12 months salary at this point."

McCoist will now prepare his team for Saturday's game against Livingston, another Scottish Championship side who are suffering their own financial problems.

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