Ex-boss Ally McCoist and Rangers agree contract deal
Rangers chairman Dave King has confirmed the club have agreed a pay-off deal with former boss Ally McCoist - nine months after he quit his post.
A 12-month notice period was triggered after McCoist (below) - the Ibrox outfit's all-time leading goalscorer - fell out with the previous administration running the club last season as his side's promotion bid faltered.
He was then placed on garden leave just hours before a stormy annual general meeting but has continued to pocket his £15,000-a-week salary since then.
King - who took over as the Light Blues' chief in March - held talks with the 52-year-old earlier this summer and has now been able to agree a deal to terminate McCoist's lucrative contract "on commercial terms which are favourable to the club".
King said: "Yes, it has been agreed with immediate effect.
"It's nice to have it behind us in the sense that there seemed to be an issue. I think I said repeatedly - there shouldn't really be an issue. Our view has always been that Rangers Football Club has had a contract with Ally McCoist.
"Ally very generously previously worked for free during a difficult time for the club. He then worked for half-price during a difficult time for the club. He then moved on and had every right to enforce his contract.
"It was obviously developing as an issue and I reached out to Ally on my last trip to Scotland at the end of July and said, 'Listen, Ally - shouldn't we be sitting down and seeing if we can't do something here?'
"He was very receptive, very open to that. He chatted to me about some issues I wasn't aware of such as the labour legislation. I said, 'Ally, that's fine. Let's stay in touch and when I'm back again on this trip let's get together and see if we can reach an agreement'.