Ally McCoist has quit as manager of troubled Scottish giants Rangers and entered a 12-month notice period, the Championship club announced on Monday.
McCoist, a former Rangers striker who had been in charge for two years, stepped down after media reports said he was set to resign amid growing pressure from fans of the fallen Glasgow side, but despite the announcement, McCoist reported for training as usual at the club’s Murray Park training facility on Monday and was seen guiding his players through drills.
“The company announces that Alastair [sic] McCoist, manager of the first-team squad, has resigned,” Rangers said in a statement to the London Stock Exchange. “His service contract dated 28 December 2010, which was subsequently amended, has a 12-month notice period. The directors will hold discussions with Mr McCoist to seek an amicable solution in the best interests of the company, and expect to be in a position to make a further announcement before the end of the week.”
Photo: AFP
The former Scotland striker’s salary will revert back to £750,000 (US$1.2 million) a year after the 52-year-old took a 50 percent wage cut earlier this year.
Rangers, who have won the Scottish league title a record 54 times, currently play in the country’s second tier. They were relegated from the top flight, which they have traditionally dominated with Celtic, to the fourth tier in 2012 as punishment for major financial problems.
McCoist, who took over in 2011, was praised for staying at Rangers after their demotion, but his role had come under scrutiny after a poor start to the current campaign.
Rangers are lagging nine points behind Championship leaders Heart of Midlothian and were knocked out of the Scottish Challenge Cup earlier this month after losing 3-2 to Alloa Athletic in the semi-finals.
The Ibrox club still face cash problems after reporting an £8.3 million operating loss last month and need to raise the same amount by the end of this financial year.
A severance package for McCoist would reportedly cost Rangers about £800,000 under the terms of his contract.
His last game in charge was a 2-0 defeat by Queen of the South on Friday last week, which was Rangers’ fourth loss of the campaign.
McCoist was reluctant to discuss his future after the game, saying: “I have absolutely no comment on rumors.”
Asked if he would still be in charge next season, he replied: “Absolutely. I’m the Rangers manager and that will hopefully be the case for the foreseeable future. I told the [players] I was the Rangers manager and I would continue to be the Rangers manager.”
McCoist won nine league titles during his time as a player at Rangers and is the club’s all-time leading scorer with 355 goals.
In a further twist, the Scottish Football Association (SFA) has charged Rangers shareholder Mike Ashley with breaching rules relating to his dual interest in the Scottish club and English side Newcastle United.
The billionaire Newcastle owner acquired a 9 percent stake in Rangers in October, having previously secured naming rights to Ibrox.
In a statement, the SFA said that Rangers and Ashley were accused of breaking rules that prevent parties from exerting an influence over more than one club. They are due to face a hearing on Jan. 27.
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