Rangers manager Ally McCoist has disclosed that the club has not yet allowed him to reduce his £825,000 annual salary, in spite of the fact that, as far back as September, he voluntarily offered to accept a 50 per cent pay cut, writes Ewing Grahame.
McCoist has made it clear to the Ibrox hierarchy that he is willing to agree to that cut – with the proviso that his wages will return to normal should Rangers continue their progress to the top tier – but the current board has so far refused to accept his offer.
At a time when cost-cutting measures are required, the 51-year-old has been left puzzled by the directors’ failure to welcome such a major saving and is hoping that the reason is simply a logistical problem arising from the resignation of former chief executive Craig Mathers and his subsequent replacement by Graham Wallace. When asked whether his terms had been reduced, McCoist replied: “Not yet. We have met on two or three occasions.
“My advisor met the previous chief exec and we more or less agreed terms but, as yet, nothing has happened. I’m very hopeful that’s just down to the changeover because nothing has changed on my part. We feel it’s the right thing to do, we want to do it and we will do it – hopefully, sooner rather than later.
“I would hope that the [original] agreement we had, we could just continue with but it [the chief executive role] has been changed over.
“I appreciate that might move the goalposts a wee bit – but, hopefully, not too much that it would prevent it happening.”
Rangers’ financial director, Brian Stockbridge, has arranged a meeting with McCoist this week, at which the wage cut is expected to be addressed.