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Ally McCoist insisted on Friday that money is not the motivating factor behind his role as Rangers manager after agreeing to slash his wages.
The club’s annual accounts, which were published this week, revealed his salary to be £825,000 — a figure which has prompted much debate.
McCoist has since agreed to accept reduced terms, which he says are nearer to the 50 per cent cut quoted in one newspaper on Friday rather than suggestions of a 15 per cent drop.
He said: “The only thing I ever wanted was an opportunity to manage the club. There was a contract put down which I can tell you in all honesty was not negotiated at all.
“The finances were not important and that’s the truth — we just wanted an opportunity to manage the football club.
“I signed the contract and we could not foresee what was going to happen in the next 18 months, two years, which was obviously a massive blow to the club. We are where we are at the moment.”
Last week Rangers announced an operating loss of £14.4 million for the 13-month period until the end of June.
McCoist, whose side play Ayr United on Sunday, added: “I would like to point out that my decision to take a wage cut has nothing to do with the accounts.
“The negotiations started well before the accounts came out.”
