Former Nottingham Forest manager Billy Davies is understood to be a possible contender for the Rangers job, following Mark Warburton's departure.
On Friday evening, Rangers released a lengthy press statement on Twitter claiming that Warburton, assistant David Weir and head of recruitment, Frank McParland were all set to leave the Premiership club. "We are clearly short of where we expected to be at this time", the statement read.
"Mr Warburton, Mr Weir, and Mr McParland have therefore been notified in writing that their notices of termination have been accepted".
Alex McLeish admits it would be hard to turn down Rangers were they to offer him the vacant manager's position.
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Under-20s coach Graeme Murty will take interim charge of the first team for Sunday's William Hill Scottish Cup fifth-round tie against Morton, Rangers said.
Yet it was reported that Warburton was taken aback by the news, indicating he had received no warning of the 9pm statement detailing the end of his reign.
The 54-year-old is a little more than 18 months into the job with the team third in the Scottish Premiership, with nearly no possibility of catching the league leaders Celtic.
"There is a lot of speculation, but at the moment there is nothing I can update you on", he told Sky Sports ahead of Gers' 2-1 win over Morton.
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