Monday 22 December 2014 13:19, UK
Rangers boss Ally McCoist has left his role as manager and will serve out the remainder of his contract on 'gardening leave'.
McCoist handed in his resignation following a poor run of results and was on a 12-month notice period but he has now left his post ahead of Monday's annual general meeting.
Rangers released a statement that read: "Rangers would like to announce Ally McCoist has relinquished his duties as manager and will serve out the remainder of his contract on gardening leave.
"We would like to thank Ally for all his hard work in the last few years but we feel it is now in the best interests of all parties to move on.
"Assistant manager Kenny McDowall will take over his duties until the end of the season."
The Ibrox club announced last Monday that 52-year-old had offered his resignation but after talks with new chief executive Derek Llambias and chairman of the football board Sandy Easdale on Wednesday, it was announced that McCoist would remain at the Ibrox helm.
When asked on Friday if he planned to see out the notice period set down in his one-year rolling contract, McCoist said: "Yes. Absolutely. I don't know if it's realistic or not but I expect it to happen because it is in the boundaries of the contract, which I look to honour."
We would like to thank Ally for all his hard work in the last few years but we feel it is now in the best interests of all parties to move on.
The former Rangers striker, who watched his side beat Livingston 2-0 at Ibrox on Saturday, had refused to explain his decision to hand in his resignation, when asked he said: "I will not comment on why I have made the decision. I will keep that private.
"I've got to say the players are extremely respectful and they continue to work very hard for themselves and the club. We cannot allow that to change. I can assure everybody I am 100% committed and the Rangers supporters would expect nothing less than that."
The Rangers board are expected to face the wrath of the Ibrox support when it appears before the club's Annual General Meeting on Monday.
The shareholder summit takes place at the home of the Glasgow giants at 10.30am and is certain to be a stormy affair following the latest McCoist news.
Chairman David Somers, new chief executive Derek Llambias and director James Easdale all face re-election to the board, while the club will propose a new share issue to raise funds.
Former Rangers goalkeeper Andy Goram says McCoist will be relieved to get out of the spotlight.
Goram told Sky Sports News HQ: "It's a sad day, I said before that there were three options - Coisty (McCoist) stays, they pay him up, or he goes on gardening leave and they have taken that option. I think Ally will be relieved to get away from all the rubbish that has been going on.
"The majority of fans will be saddened but the minority will be delighted because a lot of them have been wanting him out for quite a while because of the way we have been playing and the results.
"It's a sad day and a shame it has come to this but he can take a rest and go on holiday."
Watch Rangers' next game live on Sky Sports 1 HD as they travel to Hibernian in the Scottish Championship on Saturday. Coverage begins at 12pm.
