Rangers have sacked manager Philippe Clement, BBC Scotland has learned.
The club took the decision following a poor run of results culminating in Saturday's 2-0 home defeat by St Mirren, which left the Ibrox side 13 points behind Scottish Premiership leaders Celtic.
The Belgian, 50, had been under pressure this season as his team struggled to match Celtic's consistency and this month's Scottish Cup loss at home to Queen's Park increased supporter unrest.
Off the pitch, 49ers Enterprises are negotiating a potential takeover of Rangers, which could be completed between April and June.
Rangers visit Premiership opponents Kilmarnock on Wednesday (20:00 GMT) then host Motherwell on Saturday (15:00).
Clement joined Rangers in October 2023 following Michael Beale's 10-month reign, soon winning the League Cup and moving the team top of the Premiership.
However, a poor record against Celtic contributed to missing out on last season's league title and Scottish Cup.
This term, league defeats by Celtic, Kilmarnock, Aberdeen and St Mirren put Clement under scrutiny and Rangers missed out on another League Cup triumph by losing the final to Celtic on penalties.
Rangers' league victory over Celtic at Ibrox in January temporarily eased the pressure but further dropped points at Hibernian and Dundee as well as this month's home losses ultimately sealed Clement's fate.
After Hibs had beaten Celtic earlier on Saturday, St Mirren's win was their first at Ibrox since 1991 and came less than two weeks after Championship side Queen's Park knocked Rangers out of the Scottish Cup.
In Europe, Clement's record was competent, emulating last season's achievement of reaching the last 16 of the Europa League and Jose Mourinho's Fenerbahce will meet Rangers over two legs in March for a place in the quarter-finals.
Last week, chief executive Patrick Stewart indicated the board were minded not to make a managerial change while Rangers maintained an interest in Europe.
"We have been underperforming for several seasons now and that's not down to a manager," he said. "We have changed the manager and it has not made a difference.
"Until we sort the root causes, then it's akin to trying to fix a broken house and starting with the ceiling instead of starting with the foundations.
"For all that the Queen's Park result was disastrous, we do also have to give credit to Philippe and the team for the Europa League run. I don't want to take a step that would put further progress in the Europa League at risk."
Defeat at the qualifying stages of the Champions League in August had limited Clement's summer transfer budget amid a worsening financial picture off the pitch.
Rangers announced a £17.2m loss for the year to June, up £4.1m from the previous accounting period, prompting a reduction to the first-team wage bill for this season.
Contrasted with three-in-a-row champions Celtic's £13.4m profit, Rangers' failure to reach the Champions League group stage last season or league phase this term was laid bare.
Former Club Bruges and Monaco boss Clement had earlier in the season signed a new deal until 2028, meaning Rangers face a managerial compensation pay-out for the third season running.
Indeed, Rangers are looking for their fifth permanent manager inside four years with neither Giovanni van Bronckhorst, Beale nor Clement able to put in a credible enough challenge to Celtic since Steven Gerrard won the Ibrox side's last league title in 2021.
In recent months, there have been boardroom changes at Ibrox, with Stewart joining from Manchester United and Fraser Thornton coming in as non-executive chairman.
The chief executive role had been vacant for around six months following James Bisgrove's summer departure while John Gilligan was appointed interim chairman in September after John Bennett had stepped down on health grounds.
Stewart, in his interview with club media last week, stated Rangers were hoping to recruit a new sporting director, an appointment Clement later said he would not have a say in.
Clement exits after winning 55 of his 86 games in charge, drawing 16 and losing 15.
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