Rangers manager Alex McLeish will leave the club at the end of the season.
The Light Blues boss was given a stay of execution just before the New Year and the Govan club’s Bank of Scotland Premier League form picked up.
But they lost 2-0 to Aberdeen last night, following an embarrassing 3-0 Tennent’s Scottish Cup fourth round exit at the hands of Hibernian at Ibrox.
The SPL champions have slipped back into fourth place in the table, behind leaders Celtic, Hearts and Hibernian.
The Light Blues, who are still in the Champions League where they will face Villarreal in the last 16, are now 18 points behind their great rivals ahead of the third Old Firm clash of the season at Ibrox on Sunday.