Rangers have confirmed that Ally McCoist has agreed to the early termination of his contract. Dave King revealed that he had met with Ally yesterday and had reached an agreement in four or five minutes of meeting. All was still due £250,000 but Dave King has said McCoist had agreed to terminate the contract in commercial terms favourable to the club.
In a statement on the Rangers official website Ally said;
"Without doubt managing Rangers was THE greatest honour in my career. It was the dream job but in a nightmare scenario.
"I am absolutely delighted the Club now has a stable Board and that the good work off the pitch is being equalled by the performances on it.
"Most of all I want to express my gratitude to Rangers fans everywhere. They were superb and they backed me and my staff. They also stood firm when their Club was in dire straits and even at the bleakest moments they did not flinch.
"They are the heart and soul of this Club and no one should ever forget that. Quite simply they are the best."