Nat: "#bbcscotfootball True Ranger. Terrible Manager. Probably for the best... but still feel sick to my stomach. #SuperAlly"

Davy Gallagher: "@BBCSportScot Ally has wasted what little money the club gave him. Signing Boyd and Miller for the second tier was a joke. #bbcscotfootball"

mrvegan: "#bbcscotfootball I wonder if that's the reason terry butcher withdrew from Motherwell job?"

Scott Caldwell: "#bbcscotfootball Rangers fans who so heavily slate McCoist are either kids too young to know better or simply eejits."

McCoist's appointment as Rangers manager came just after Sir David Murray sold the club to Craig Whyte for £1 in May 2011. By February the following year Rangers had entered administration over non-payment of VAT and National Insurance, for which they were deducted 10 points.

If that hampered McCoist's chances of winning the Scottish Premier League in his first season, there was not much joy in the cups either.

Aggregate defeats by Malmo in Champions League qualifying and by Maribor in the qualifying rounds for the Europa League ended European involvement before August was out.

In domestic competition, the holders' loss at Falkirk in the Scottish League Cup and defeat by Dundee United in February 2012 in the Scottish Cup meant a first managerial season without silverware for McCoist.

Professional golfer Marc Warren: "Ashamed to be a Rangers fan right now, how some of the fans can treat someone who represented us at our darkest time and gave his all."

Scotland and GB athlete Lynsey Sharp: "The club needs some sort of stability #fortheloveoftheclub #Rangers"

Doug Maclean: "A legend for the club and the man who stood above all in the chaos caused by Craig Whyte. Sadly he did not translate his greatness into management and the lack of improvement and poor youth policy has made this the right decision. Well done Ally for everything you have done for Rangers and taking this brave decision which will be ridiculed by small people. Lets hope we see you back amongst us soon."

Thomas Bell: "Give the man some credit, it's the players who are not performing, a load of has-beens, Boyd, Miller just to mention a few."

Peter Thomson: "Rangers have to raise £8 million in operating capital between now and the end of the season, just to stay in business. McCoist is clearly getting out before Rangers head back to Scottish Division 3 (having been bankrupted yet again by May 2015) to keep his pension pot safe while the lump sum he will also be due is not to be sniffed at and he would lose on the club in its current form going into bankruptcy."

Robert Urquhart: "Terry Butcher waiting in the wings?"

Neil Duffell: "Why should he get any compensation if he is offering his resignation?"

We're still waiting on further word from Rangers other than "no comment". Just to confirm, we still do not know how the Rangers hierarchy plan to handle McCoist's decision - they can either pay him off in full, in part or keep him in position for a year, as his contract is for a 12-month rolling period.

Image source, SNS

Ally McCoist is known for his quick wit and sense of humour. He was a fierce competitor as a player but a laugh was never far away. He was a popular figure on BBC's Question of Sport before moving into football management. However, the strain on him to balance speculation about his future, the huge expectation placed on him by the vast Rangers support and the continual boardroom changes has occasionally been evident in recent months.

Rab Denholm: "Not before time Ally. Never a football manager. The football has been terrible for the last couple of seasons. Hopefully the board will accept - that'll be the first correct decision they've made."

CowalPurple, Dunoon: "Terrible manager, great striker, fantastic guy. Honourable to the last. A Rangers legend."

Patrick: "Gutted that McCoist is walking away. Thanks for the memories."

Duncan, Grantown on Spey: "If Super Ally truly loves Rangers he'll leave and refuse any monetary compensation."

Andrew, Glasgow: "Such a shame that bolshy fans haven't given him the time he needed! I mean, what more could he have done? Thanks Ally for all your hard work!"

While McCoist enjoys a far bigger playing budget than the teams he is facing in the Championship, the standard of player is below what McCoist and the fans enjoyed in the days of winning nine league title in a row in the 1990s. The frustration of some has spilled over in recent weeks into chanting about McCoist, as Rangers won one match out of four. However, they returned to winning ways on Saturday as they beat Cowdenbeath 1-0 in a poor display in front of 19,000 fans at Ibrox.

McCoist's time as Rangers manager has coincided with calamitous events off the field, with the fall-out from the financial crisis still keenly felt. Charles Green bought the club for £5.5m when it was on its knees but the money that he and his consortium raised by way of a share issue has been spent.

There will be many Rangers fans - and others - with an opinion on McCoist's time as manager. Share your thoughts with us by text to 80295, using the hashtag #bbcscotfootball on Twitter and share your comments on our Facebook, external page.

McCoist led Rangers to successive league promotions when the club found themselves in the bottom tier of Scottish football after their slide into administration and subsequent liquidation under the disastrous reign of Craig Whyte. Rangers sit second in the Scottish Championship, nine points behind leaders Hearts.

He had been assisting Walter Smith with the Scotland national team for a few years at the tail end of his playing career when Smith returned to manage Rangers once more when Paul Le Guen resigned in 2007. McCoist went with him and was his assistant until the summer of 2011 when he took the reins.

After an initial difficult spell as a player at Ibrox, Ally McCoist went on to become a hugely popular Rangers player and is the club's all-time top goalscorer with 251 league goals and 355 overall.

In 15 years, he scored 28 hat-tricks and was Europe's top goalscorer for two years running in 1992 and 1993.

McCoist, 52, has a 12-month rolling contract with Rangers, who are refusing to comment at present.

So either the club pays his salary up in full, comes to a settlement, or keep him in place for the next 12 months.

The Rangers players are due to meet at the club's training ground, Murray Park, at 15:00 GMT, as is the norm before an evening match.

BBC Scotland understands that McCoist has offered to resign but, as things stand, he will be in the dugout for tonight's Scottish Championship fixture against Queen of the South.

Good afternoon and welcome to our live text coverage of the news that Ally McCoist has tendered his resignation as Rangers manager.