'Progressing': Major Rangers next manager update as Barry Ferguson returns to Ibrox role amid CEO revelation

Ferguson was brought in on an interim basis to replace Philippe Clement, who was sacked in February. The 47-year-old former Rangers captain guided the Ibrox club past Fenerbahce into the quarter-finals of the Europa League, but was unable to improve the team’s league fortunes as they finished a distant second to Premiership champions Celtic.

Ferguson reiterated last week that he felt capable of taking on the job permanently once the takeover from American tycoon Andrew Cavenagh and 49ers Enterprises is concluded in next few weeks, but Rangers announced on Sunday evening that they will be going down a different path, with Ferguson and his coach staff not being kept on.

Ferguson will return to his club ambassadorial role, while chief executive Patrick Stewart revealed that the search for a new head coach “is progressing well”. Davide Ancelotti remains one of the frontrunners for the post after Rangers’ interest in him was well-documented earlier this week.

In a statement on the club’s website, Rangers wrote: “Everyone at Rangers Football Club would like to pass on their heartfelt thanks to Barry Ferguson and his staff, with yesterday’s game at Hibernian [a 2-2 draw] being their final match in charge.

“Club legend Ferguson answered the call in the club’s hour of need back in February and has overseen several memorable moments during his time in charge, not least progression to the quarter-finals of the UEFA Europa League and a terrific victory at Parkhead.

“A Hall of Fame member, Ferguson will now leave this role along with Neil McCann, Billy Dodds and Allan McGregor, with enormous gratitude and best wishes of everyone at Ibrox for their efforts in these last few months.”

Next Rangers manager update from CEO

On Ferguson’s role over the past few weeks, CEO Stewart said: “The club, and I am sure all our supporters, will be forever grateful to Barry for stepping up and taking on the role of head coach. He and his staff have performed admirably amongst some trying circumstances and achieved some excellent results along the way.

“Barry, Neil, Billy and Allan all had distinguished playing careers with Rangers, and they have all enhanced their standing with the club for their work since February. The reception they received at Ibrox on Wednesday night was fully merited, and I know meant so much to Barry and his team.

“The search for our new head coach is progressing well, and we look forward to concluding our process in the coming period.”

Ferguson was also quoted in the club communication, adding: “I’ve already lived the dream as a player and as captain of Rangers, and to do so as head coach in these last three months has been an enormous honour for me. There have been some ups and downs, but I have loved this experience and given it my all throughout.

“I want to thank Neil, Billy and Allan, the three staff members who came in with me, and all the other staff who have supported me during my time in charge. Indeed from everyone at the training centre and at Ibrox, the backing I have received has been phenomenal.

“Above all, I want to thank our supporters. There is no doubt this has been a difficult season, but the backing the team and I have continued to receive in spite of that has been incredible.

“I have said, no matter how this period panned out, I would always remain a committed supporter of the club, and I look forward to remaining a Rangers ambassador. I wish whomever becomes the new manager, every success in the job.”