Rangers have confirmed that Ally McCoist has left his role as manager to serve out the remainder of his contract on gardening leave.

Doubts had been raised over McCoist's future after he recently handed in his notice at the cash-strapped club, who do not have the funds to agree a settlement deal with the 52-year-old.

"Rangers would like to announce that Ally McCoist is relinquishing his duties as manager and will serve out the remainder of his 12-month notice period on gardening leave," a statement on the club's website confirmed.

"We would like to thank Ally for all his hard work and dedication over 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 be in charge of the first team until the end of the season.