Ally McCoist will remain as Rangers manager following a constructive meeting with new chief executive Charles Green, Press Association Sport understands.

The talks took place today after reports yesterday claimed the Light Blues boss was on the verge of resigning after discovering Green planned to replace him.

Green's consortium completed the purchase of the business and assets of Rangers as a newco yesterday after failure to secure a Company Voluntary Arrangement (CVA) consigned the club to liquidation.

It is believed McCoist has now returned to a family holiday that he cut short earlier in the week when administrators Duff and Phelps were informed of HMRC's plans to reject the CVA proposal.