WATCH the Scottish Premiership LIVE on beIN SPORTS | Sign up to take advantage of our 7-day FREE TRIAL here | AU | NZ

Ferguson took over in February, as Philippe Clement was sacked after a home defeat to St. Mirren left the 'Gers 13 points behind Celtic. 

They had also been on the receiving end of one of the biggest upsets in Scottish Cup history as they lost to second-tier Queen's Park in the last eight. 

Ferguson guided Rangers into the quarter-finals of the Europa League with a 3-2 penalty shoot-out triumph over Fenerbahce in the last 16, though they subsequently lost 2-0 on aggregate to Athletic Club.

He failed to oversee any upturn in their domestic form, though, and it was widely expected that Rangers would move to appoint a new head coach for 2025-2026.

The club confirmed that would be the case on Monday, one day after Rangers signed off for 2024-2025 with a 2-2 draw with Hibernian.

A club statement read: "Everyone at Rangers Football Club would like to pass on their heartfelt thanks to Barry Ferguson and his staff, with yesterday's game at Hibernian being their final match in charge.

"Club legend Ferguson answered the call in the club's hour of need back in February and has overseen several memorable moments during his time in charge, not least progression to the quarter-finals of the Europa League and a terrific victory at Parkhead.

"A Hall of Fame member, Ferguson will now leave this role along with Neil McCann, Billy Dodds and Allan McGregor, with enormous gratitude and best wishes of everyone at Ibrox for their efforts in these last few months."

Chief executive Patrick Stewart added: "The search for our new head coach is progressing well, and we look forward to concluding our process in the coming period."