McCoist confirmed as Walter Smith's successor

Rangers have confirmed for the first time that Ally McCoist will take over as manager when Walter Smith steps down at the end of the season.

Assistant manager McCoist has been groomed as Smith's successor since the pair returned to Ibrox in January 2007.

The Glasgow club have called a media conference for 1615 GMT to formally announce the appointment.

McCoist has agreed a one-year rolling contract, with number three Kenny McDowall to become his assistant.

Smith had announced earlier this season that this would be his last as manager at Ibrox.

And he expressed his wish that assistant McCoist, who scored 355 goals in 581 appearances for the club, would become his successor.

McCoist told Rangers' website: "It was an honour to pull on the Rangers jersey during my playing career.

"I have enjoyed working with Walter, Kenny McDowall, Ian Durrant and the backroom team as assistant manager and to be confirmed as the next Rangers manager is a dream come true."

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Super Ally!

Well we all knew this was coming & I guess the reason they announced it just now is to take some of the heat off the result on Sunday.

I think McCoist is a good appointment but he needs backing in the transfer market in the summer, a lot of investment is needed in the first team squad. So hopefully we get the new owners in soon as well (and they want Ally as manager!) so the McCoist era gets every chance to succeed.