Billy Davies is the odds on favourite with William Hill to be the next Rangers manager following Ally McCoist’s departure on Sunday night.
It was announced last Monday that the 52-year-old had handed in his resignation but McCoist was adamant when he spoke to the press on Friday that he would see out the 12-month notice period of his contract.
But he lasted just two days more before his time in charge of the Glasgow giants was brought to an end.
McCoist's number two Kenny McDowall will now take the reins for the remainder of the season.
In a three-line statement posted on the club's website shortly before 9pm on Sunday, the departure of the club's record goal scorer was confirmed.
It said: "Rangers would like to announce that Ally McCoist is relinquishing his duties as manager and will serve out the remainder of his 12-month notice period on gardening leave.
"We would like to thank Ally for all his hard work and dedication over the last few years, but we feel it is now in the best interests of all parties to move on.
"Assistant manager Kenny McDowall will take over his duties until the end of the season."
Hills make the former Nottingham Forest boss 8/11 to take the reins, with former Gers players Terry Butcher and Stuart McCall 5/1 and 6/1 second and third favourites respectively.
“There was a great deal of uncertainty surrounding McCoist’s future following the announcement a couple of weeks ago but then, as he is now, Billy Davies was favourite and he is streaking ahead in the betting,” said William Hill spokesman Joe Crilly.
Meanwhile, McBookie.com have tightened Davies to evens and have McCall as their 6/1 second favourite.
"It will be interesting to see if the board have anyone lined up but if the rumours and money is to be believed then it will be Billy Davies. He started the process as a 6/1 shot but is now the even money favourite," said spokesman Paul Petrie.
Davies backed for Ibrox job
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