McCoist to remain at Rangers

Ally McCoist will remain as Rangers manager following a constructive meeting with new chief executive Charles Green, Press Association Sport understands.

The talks took place after reports on Thursday claimed the Light Blues boss was on the verge of resigning after discovering Green planned to replace him.

Green's consortium completed the purchase of the business and assets of Rangers as a newco on Thursday after failure to secure a Company Voluntary Arrangement (CVA) consigned the club to liquidation.

It is believed McCoist has now returned to a family holiday that he cut short earlier in the week when administrators Duff and Phelps were informed of HMRC's plans to reject the CVA proposal.

A dramatic 11th hour bid from a consortium led by former manager Walter Smith was unable to prevent Green from completing his £5.5million newco acquisition.

The Smith group, which includes prominent Scottish businessmen has urged the former Sheffield United chief executive to consider a quick sale.

Such a move would reunite Smith and McCoist, who assisted the veteran boss in his second spell as manager before taking over the Ibrox helm himself last summer.

McCoist declined to comment on rumours about his future as he left the stadium on Thursday but now appears willing to work as part of the new regime following the productive talks.