Sandy MacKenzie: "Astounded by all those promoting the 'integrity' and 'honour' of McCoist. If he was, as they paint him, genuine then surely he walks away (they do apparently after all) at no cost to the club he loves so much thus leaving cash to pay the staff he feels do much for?"

Lewis, Edinburgh: "Another sad day in the depressing saga. I suspect McCoist has had enough of being the public face and fall guy. He's done an impossible job to the best of his ability."

Liam, Glasgow: "Can't believe that Rangers fans are falling for this rubbish. McCoist is walking away just as things get tough and is looking to be the latest in a long line of people to get a golden handshake from this shambles of a club. Make no mistake he has done very well during these past 2 years. He has achieved the bare minimum given the squad he could field and has still presided over some really horrendous results. If he had any respect for Rangers he would stay and fight for their league position or he would walk away for free."

Graeme Smith, Dunfermline: "Really feel for McCoist. He took charge of Rangers in a turbulent period and has guided them to Scotland's second tier. Given a bit more time and the backing of a strong board I feel that within a couple of seasons we would be back challenging for the top league. Rangers are an institution and need to be successful. I back Ally and hope that he remains in charge."

David Benzie: "McCoist has now become a lame duck manager. He can not continue managing the team and he knows it, as does the board. The players will not react well to a manager whom they know will leave after 12 months. Why should they play hard for him if he is leaving? McCoist has, in effect, forced the board to buy him out. He should, as someone else posted, refuse the money, and write a book."

Richard Wilson
BBC Scotland

"There's no chief scout, there are 12 players out of contract in the summer. This is a club that doesn't have its problems to seek. It doesn't tend to work when players know a manager is leaving."

Tom English
BBC Scotland

"I think the idea that he will be there for the next 12 months is ridiculous. Are they going to waste the next 12 months with a lame-duck manager?"

Our reporter Alasdair Lamont is at Palmerston. He says McCoist smiled at some Rangers fans as he stepped off the team bus.

What will the mood be in the Rangers changing room at Palmerston this evening? Defiance? Embarrassment? Determination? We'll continue the live text commentary right through the Scottish Championship match in Dumfries this evening. A win for Rangers would lift them to within six points of leaders Hearts. Queens are currently in third place.

Richard Wilson
BBC Scotland

"If Ally McCoist had been sacked, he would be due more money than if he handed in his notice. The ideal scenario for Ally would be to take Rangers up in the summer and call it a day then. He would have served the club. 'We don't do walking away', that statement, has almost hung round his neck."

Richard Wilson
BBC Scotland

"If he was to leave now he would be open to the accusation that he had left Rangers in the lurch. He has handed in his notice, that contractual obligation is for 12 months."

Chris Mayhead at Palmerston Park: "Come on Rangers. Let's circle the wagons here in Dumfries."

BBC Scotland's senior football reporter Chris McLaughlin says that Ally McCoist handed in his resignation yesterday. He says: "Rangers are left with a man in charge who they can't afford to pay off."

Image source, SNS

Ally McCoist embraces Paul Gascoigne after the England midfielder scored a late penalty against Aberdeen to help clinch the 1995/96 league title for Rangers.

Ally McCoist is quoted on the Rangers website, external looking ahead to his team's match against Queen of the South tonight. He says: "Every team can do more - it doesn't matter whether it is Rangers or Real Madrid.

"We set out to win games and the best way to do that is scoring goals and playing attractive football.

"To win games is our job but it is also to put on a good footballing show.

"The most important thing from my point of view is the team's performance on the park and the results.

"Whether there are 1,000 people watching or 50,000 the job is still the same.

"You've got to focus on going out and getting results and winning games of football - that can't change and it won't change."

Scott Matthew, Dunfermline: "Another day in the life of the shambles that is RFC! McCoist should just walk away without taking a payment or any hush money and make money from writing a book about what has gone on during his spell at the club. Despite his managerial failings he would still be considered a Rangers legend for doing this. Well played though as this has shifted any focus from the playing field to that shambles of a board!"

Anonymous: "Gutted. No other words to describe it. A true Rangers legend having his hand forced by the club he loves. He deserved so much more not just from the club but some sections of the support as well. The sad fact is many of the people who criticised him over social media have no idea what he did and achieved for the club he loved."

Paul: "Appalled by some comments of Rangers fans. McCoist is a man of integrity who could have just walked away when the troubles began but stayed because he loves the club. How soon some people forget but sadly not surprised."

Dougie Kinnear: "To show support for people losing their jobs Ally will only stay in his for 12mths & £400k, unless they pay him off! #bbcscotfootball #noble"

Tonight's match for Rangers against Queen of the South in Dumfries should be intriguing. As is stands, McCoist has in effect given 12 months' notice that he will be leaving, such is the terms of his 12-month rolling contract. The board will not remove him from his post immediately as it is thought the club doesn't have the funds to pay off the remainder of his contract.

Image source, SNS

Ally McCoist assisted Walter Smith with the Scotland team and followed him to Ibrox when Smith replaced Paul Le Guen in 2007.

Jim Shaw, Dundee: "McCoist is well at it here and has only his self-interest at heart. He must've known that most of the Board were in London so he springs this on the club at about 1230 on the day of a game. He has gone right downhill integrity-wise in my estimation. Yes he was under pressure but much of it was down to his lack of tactical nous and his inability to be tough enough on the players to at least get them physically fit. Ally was never a manager, but always a hero and always a Ger, or so I thought until today. He should walk away whether his resignation is accepted or not as he cannot possibly pick up the pieces from this position. Those of us who are lifelong fans can only shake our heads yet again as the Club continues to flounder."

Richard Wilson
BBC Scotland

"Ally McCoist handed in his notice after becoming increasingly concerned and saddened by administration and ground staff losing their jobs. He had also been assured that no employees at Murray Park would be affected, only for some to then be told they would be losing their jobs. He will serve out the 12-month notice period, unless the board settle his contract or put him on gardening leave.

"He's had enough of seeing decent, honest people with Rangers in their heart losing their jobs," a source told the BBC.

John: "Rangers making things difficult for themselves yet again. If they had any brains, they'd be dangerous."

Jenni in Newtownards: "Imagine what would happen, and how good Rangers would be if they all stopped fighting and squabbling with each other in the boardroom and actually focused on the football!"

Andy in Armagh: "Yet more madness at Rangers Football Club. When will it all end?"

Fiona, Edinburgh: "I had the number 9 as a player because of Super Ally. He will always be a Rangers legend but the board need to do the right thing for everyone and let him go. Will always be a better manager than PLG. Before you criticise him, walk a mile in his shoes - not an easy job and the club has not made life easy."

Jack Henderson: (re 16:40) "#bbcscotfootball Steven Thompson talks a lot of sense McCoist has done brilliant given the circumstances."