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Rangers manager Ally McCoist resigns

December 15, 2014

LONDON (AP) — The troubles at fallen Scottish power Rangers mounted on Monday with the resignation of manager Ally McCoist and the Scottish Football Association launching disciplinary proceedings over the ownership.

The 52-year-old McCoist, who has been in charge since 2011, has trigged a 12-month notice period by resigning but Rangers said it hopes this week to reach an “an amicable solution.”

The club unusually disclosed its McCoist’s salary, telling the London Stock Exchange that it “will increase significantly” to 750,000 pounds ($1.2 million) for the year of the notice period.

Rangers, which has won a record 54 league titles in Scotland, was demoted to the bottom tier of Scottish football in 2012 because of a financial meltdown. The cash-strapped Glasgow club is now in the second division after successive promotions, and facing further uncertainty in the boardroom.

The Scottish FA is accusing Newcastle owner Mike Ashley of having an undue influence over the club.

Although his current stake in the club stands at 9 percent, Ashley runs Rangers’ retail division and has recently handed the club a loan. Ashley is prevented from owning more than 10 percent of the club while he remains in charge of Premier League club Newcastle.

The two SFA charges relate to Ashley’s influence over Rangers and Newcastle. Rangers itself has been charged over Ashley’s involvement which could see the Glasgow club fined, handed a transfer ban, thrown out of the Scottish Cup, or even have its membership of the SFA terminated.

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