Alex McLeish has been fired but will remain in charge at Rangers until the end of the season.
BBC Scotland understands former Lyon manager Paul Le Guen will be the man to succeed McLeish, though chairman David Murray would not confirm that.
Chairman David Murray said on Thursday that McLeish would leave in the summer, while admitting that the club was “some way down the road” on a deal for a new coach.
“The decision had been made. This is a premature announcement,” said Murray.
“It was our intention to make an announcement after the Villarreal games of a major investment and a potential new manager.
“But we felt that, taking all factors into consideration and after discussing the situation collectively with supporters’ groups, the board, Alex and some players, the best thing was to announce it is Alex’s intention to leave at the end of the season.”
McLeish was told on Thursday afternoon that his four-year reign was over. The decision comes after successive defeats. On Sunday, Rangers were knocked out of the Scottish Cup by SPL rivals Hibs, while last night’s defeat to Aberdeen saw McLeish’s side drop to fourth in the table, 18 points behind leaders Celtic.
Murray also promised the announcement of a major investment in the club would still be forthcoming.
“We’ll announce it when it’s appropriate. We’ve got to do it with other people, when they want to do it,” he added.
He refused to quantify the investment, but said: “Significant amounts of money will be coming into Rangers Football Club.
“It’s obvious Rangers have got to re-invest real money in players.”
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