ALLY McCOIST last night insisted his job as Rangers manager was not under imminent threat as the club faces a bout of cost-cutting.

The Rangers manager was speaking as it was confirmed that the club's board had accepted a £2m loan from Mike Ashley, the sportswear tycoon and owner of Newcastle United.

The latest victim of the turmoil at Rangers is Graham Wallace, who resigned as chief executive with reports last night suggesting he would be replaced by Derek Llambias, a long-time associate of Ashley.

There was fevered speculation yesterday that McCoist would be sacrificed on the altar of cost cuts but the manager said he had been given assurances in phone calls from David Somers, the club chairman, and Sandy Easdale, a major shareholder and chairman of the football board.

"I spoke to the chairman first thing and then Sandy before training," said McCoist. "The chairman was great. We had a 15-to-20 minute conversation - the majority of which will remain private - but he was kind enough to explain the board's views and opinions on taking the Mike Ashley offer.

"Sandy phoned basically to say much the same and to tell me to concentrate my thoughts totally on tomorrow's game and indeed the upcoming fixtures. His words were: 'Just concentrate on your job as the Rangers manager'. Both of them effectively echoed those statements and that is where we are."

Sandy Easdale himself, when he arrived at Ibrox yesterday morning, also insisted that McCoist's position was safe. "We've not got any ideas of changing the manager so that's not on the agenda," Easdale said.

When McCoist was asked if he felt under threat in the job he has held since the summer of 2011, he replied: "I have been told by both gentlemen to concentrate on my job, which is as Rangers manager. That's what I have been doing and will absolutely continue to do."

Rangers face St Johnstone tonight in the quarter-finals of the Scottish League Cup and McCoist said his resolve to continue in the role was "great", adding: "I actually think the team is in not a bad place. And that is by far the biggest part of my job - to get the team on the park to get results. It's not taken its toll. Like any man in any job in any walk of life, some days are better than others.

"It's the exact same for me. But my strength and will remains. I'm as strong-willed as I've ever been to continue in my job of getting Rangers back to the top flight. And then further. There has been a lot of things going on in the last couple of years when there might have been a reason, but certainly not an excuse, to take your eye off the ball."

Some fans have expressed anger at Ashley's growing influence at Rangers with a boycott organised for tonight by the Sons of Struth.

"It has been an unbelievably tough three years and I can understand, totally, the frustration from section of the fans," said McCoist. "All I would ask of them is to continue with their unbelievable support of the team. The last thing I will ever do is turn against the fans because they have been the one loyal and one constant. I totally respect their decision. Whether there is 100 people or 55,000 it doesn't change things.

"We have to go out and get us a result that will get us into the semi-final. I understand people's emotions are running high and they are making decisions they feel are right. But, it goes without saying, that I would rather have 55,000 in the stadium."