Scottish Championship side Rangers has confirmed Manager Ally McCoist's resignation -- and revealed that
the manager will receive a wage increase by "nearly double" to £750,000 ($1.17M)
in his final year in charge, according to Gregor Kyle of the Scotland DAILY RECORD. The club on Monday informed the stock exchange of McCoist's decision to "work his 12-month notice period." The
move follows a weekend of "rumour and speculation" with the 52-year-old
"refusing to comment after it was revealed on Friday that he had decided
to walk away from the club after just over four years in charge" (DAILY RECORD, 12/15). REUTERS' Mike Collett reported McCoist has been in charge at Ibrox since '11 and taken the 54-times Scottish champions "back to the second tier following their demotion to the fourth division for financial irregularities" in '12. The decision "ends the uncertainty surrounding the future of McCoist, the club's all-time record goalscorer, following reports on Friday that he had offered his resignation" (REUTERS, 12/15).
FOUR OPTIONS: The BBC reported Rangers directors "plan to meet McCoist this week to seek an 'amicable solution.'" There are four options now open to the "cash-strapped" club:
- Leave McCoist in place to "work out his notice;"
- Pay McCoist his "12-month salary in full" and release him;
- Reach a financial settlement that "suits both parties;"
- Put McCoist on leave for 12 months and "appoint a new manager" (BBC, 12/15).
SIMON JORDAN WEIGHS IN: In Glasgow, Craig Swan reported former EPL side Crystal Palace Owner Simon Jordan insisted that Rangers "simply cannot" have McCoist at the helm for "a minute longer -- and must act now to remove him." Jordan said that the club "must find the money or do whatever it takes to act immediately." He said, "If you want to leave, you leave. You don't tender your resignation and stay. Frankly,
if I was in control of Rangers, I would want it clear in my mind. I
would say, 'If you want to stay, you get in front of us and retract your
resignation.' ... But if you're going to go, go. We don't want a long and lingering death, so if you are going to go, leave" (
DAILY RECORD, 12/15).
