Ally McCoist thrilled with future role as Rangers boss
McCoist will take over from Smith at the end of next season
Ally McCoist is delighted to be waiting in the wings to replace Walter Smith as Rangers manager.
Smith has signed a new contract that will keep him at the Scottish champions for one more year.
Assistant boss McCoist and first-team coach Kenny McDowall, who both penned two-year deals, will then take over.
"It will be a privilege and an honour to take over from Walter next year and that is a challenge I shall certainly relish," McCoist told the club website.
The 47-year-old is Rangers all-time record goalscorer, having found the net 355 times in a 15-year Ibrox playing career that ended in 1998.
The former striker has served a five-year apprenticeship under Smith, firstly with the Scotland national team then back at Ibrox as his number two for the 62-year-old's second spell at the club.
"We're thrilled, absolutely thrilled to get it sorted," said McCoist. "I think it was fairly common knowledge we didn't want to go anywhere at all.
We've got a big season ahead of us with the Champions League coming up and we also want to retain the title
"This place is our home and, thankfully, we've had a reasonable amount of success in the last few years.
"For that reason, we were really keen to stay and we are delighted with the way it has all worked out."
McCoist and former Celtic coach McDowall have helped Smith land six trophies in the last three seasons, as well as reaching the Uefa Cup final, and he is sure that fans will approve of the continuity of change the club has planned.
"I'm hopeful the majority of the supporters will be very pleased we are staying," he said. "I'm sure they'll appreciate we've had one or two excellent seasons recently.
"We've had some great times and, going forward, it is our aim and our objective to create some more for them.
"They have been fantastic to us over the years and we want to repay them for that with more trophies.
"The last two league campaigns have been very successful and we've had one or two cup runs, which have been great.
"That's how we are gauged and hopefully we can continue that. We're desperate to build on that and I'll settle for the same results next season.
"As long as we are top when it comes to the end of the campaign next May, that will be great."
Despite the uncertainty that has surrounded the future of the management team in recent weeks, McCoist revealed that plans are already under way for the new campaign.
"It's fair to say we have already been doing a little bit of work anyway and now we've the opportunity to continue with that," he added.
"We've got a big season ahead of us with the Champions League coming up and we also want to retain the title. Hopefully we can sit down and get these plans in action."
Rangers begin pre-season training on 5 July and, on 20 July, fly out to Australia, where they will face Boca Juniors, Blackburn Rovers and Sydney FC during a 12-day trip.
On their return, Newcastle United will be the visitors for a pre-season friendly at Ibrox.
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