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Manager Walter Smith has signed a one-year deal to remain at Rangers in what will be his last season in football.The 62-year-old then intends to hand the reins over to his assistants Ally McCoist and Kenny McDowall.
Smith, McCoist and McDowall had all been working without contracts since January as the club seek a new owner.
Smith has delivered nine championships in his two spells in charge at Ibrox as well as five triumphs apiece in the Scottish Cup and League Cup.
"I am wholly committed to managing the club next season and when it comes to the end of next season I firmly believe that Ally and Kenny would do a great job and I am glad everybody at the club shares that view," Smith told the club website.
"I have given this decision a great deal of thought.
"The next season holds many challenges for everyone at the club and I would hope that with the backing of everyone - supporters, management and staff - we can pull together as a club and continue to achieve at least the levels of success we have enjoyed over the last few seasons.
"We have big challenges ahead, on and off the field, but we are all Rangers men at heart and are looking forward to going for our third league title in a row and playing in the Champions League."
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