RANGERS manager Ally McCoist has yet to sign a revised contract that will see him take a £400,000 wage cut.

McCoist revealed in October that he and his coaching staff, including assistant manager Kenny McDowall and coach Ian Durrant, were to take salary cuts just weeks after Rangers International Football Club plc posted an operating loss of £14.3 million for the last financial year.

Since then, the make-up of the Ibrox board has changed significantly, with chairman David Somers, non-executive director Norman Crighton and chief executive Graham Wallace all appointed in recent weeks. McCoist is still willing to take the reported 50 per cent deduction, but has yet to sign on the dotted line. However, it is understood the issue should be sorted within the next 48 hours in a meeting with finance director Brian Stockbridge.

"We have met on two or three occasions," McCoist said. "My advisor met the previous chief executive and we more or less agreed terms, but as yet nothing has happened. I'm very hopeful that's just down to the changeover because nothing has changed on my part. We feel it's the right thing to do, we want to do it and we will do it, hopefully sooner rather than later."

McCoist's contract is not the only matter that is unresolved at Rangers, with the upcoming AGM on December 19 continuing to dominate the club agenda. Wallace, Somers and Crighton joined a board that already included James Easdale and Stockbridge, but the manager admits he doesn't know where the power lies at Ibrox.

He said: "I can't assess that at the moment. We've come from a situation where we knew who the boss was for 20-odd years in Sir David Murray and now it's completely different. We'll just have to wait until the AGM to see what the institutions do. My job is to pick a team to win a game of football."

Meanwhile, striker Andrew Little has refused to set a date for his first-team return after suffering severe facial injuries in the victory over Dunfermline on November 6. The Northern Irishman has had several metal plates inserted in his skull to repair the damage, but has yet to take part in full training.

"I'll start easy and build up to it, but I'm not too psychologically damaged," he said. "The first bang the better maybe, someone to go through me and that will sort me out. I don't really want to set a target. Six weeks minimum was what they said and I think I'll be round about that."