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McCoist takes wages cut to help Rangers

4 October 2013 17:16

Ally McCoist has shown his commitment to Rangers by taking a pay cut to help the club financially, stating: "It is the right thing to do."

McCoist has been in charge of the club that he played for over 400 times since succeeding Walter Smith in June 2011.

The turbulent two-year period that has followed McCoist's promotion from Smith's assistant to manager saw Rangers banished to the fourth tier of Scottish football in 2012 after entering administration and liquidation.

Rangers began their ascent back up the footballing pyramid with promotion last season, but the financial fall-out of the club being demoted has been significant – the former Scottish champions this week announced operating losses of £14.4million in their annual accounts - prompting McCoist to voluntarily slash his wages.

"We just feel that where we are as a team and with the turnover and income down it is the right thing to do," the former striker said.

"We are not looking for a pat on the back for it at all because any Rangers supporter in our position would do the exact same."

He added: "I think we could probably go back to when I was offered the job. The only thing we ever wanted was an opportunity to manage the club, myself and my staff.

"There was a contract put down which I can tell you in all honesty was not negotiated at all and we signed it, the finances were not important to us and that's the truth.

"We just wanted an opportunity to manage the football club so we signed that contract.

"Obviously we could not foresee what was going to happen in the next 18 months to two years which was a massive blow to the club, the support and everybody within the club.

"I would like to put out also that our decision, or certainly my decision, to take a wage cut has nothing to do with the accounts because the negotiations started well before the accounts came out.

"Obviously like most accounts there were one or two bits and pieces within them that are topics of conversation but in terms of my own salary, my decision to take a wage cut was well in place before these accounts came out."

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