Ally McCoist has recently made his feelings quite clear, stating unequivocally that no new manager for Rangers was going to step in before the completion of the club's takeover at Ibrox.

He believes that Russell Martin is in with a shot for the manager's role, despite hear-say deriding it as an "underwhelming" appointment.

The ex-Southampton gaffer is poised to take charge amid Ibrox’s changing regime after American businessman Andrew Cavenagh and 49ers Enterprises' acquisition.

While Davide Ancelotti was previously tipped for the leadership position, it seems he's now fallen behind in the race, as Rangers approach the climax of their managerial hunt.

Rangers legend McCoist, speaking on talkSPORT, emphasised the urgency of filling the post: "It's imperative it gets done ASAP. However, it was never, ever going to get done before the sale of the club and the new owners came in."

Facing probing by talkSPORT Breakfast Show presenter and Celtic fan Alan Brazil regarding whether Martin would disappoint fans, McCoist admitted: "He (Russell Martin) came up for a while - but that is the term that was used, underwhelming. But you have got to give him a chance."

The Daily Mail suggests that Ancelotti and Francesco Farioli are still in the mix according to Rangers, but signals point towards Martin emerging as the frontrunner.

Martin reportedly outshone Ancelotti, who has an impressive coaching pedigree working with his father Carlo at clubs like Bayern Munich, Napoli, Everton, and Real Madrid.

Swiss media now suggest that FC Basel have a "better chance" of securing Ancelotti's services as they aim to replace Fabio Celestini, who is expected to be shown the exit.

According to Spanish publication Sport, Ancelotti is "interested" in the Basel role, anticipating a snub from the Scottish Premiership heavyweights.

This article originally appeared via Daily Record.