Rangers have agreed to the early termination of former manager Ally McCoist's contract with the club, with chairman Dave King saluting the former boss as "one of the most significant figures in the club's history".
McCoist had been on gardening leave since standing down as boss, but a meeting with King saw his situation quickly resolved and a payoff to terminate his contract was agreed.
And King is full of warm words for McCoist, vowing not to forget his heroics for the Gers and saying via the club's official site: "Ally remains one of the most significant figures in this club"s history. His contribution on and off the pitch should not be forgotten or devalued.
"Agreement could have been reached earlier but it has been difficult for us to get an opportunity to sit together and talk everything through.
"We have done that now and we are grateful for Ally"s continued consideration for the club by accepting early termination – which he was under no obligation to do", King added.
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McCoist was also full of warm words following the termination agreement and dubbed the chance to have managed Rangers the greatest honour in his career to date.
However, the former striker conceded that the chalice he inherited was a poisoned one and meant managing his dream club in what he feels was a nightmare scenario.
McCoist 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", the former striker added.
