IT is the dream job that quickly turned into a living nightmare.

But Ally McCoist, for the time being anyway, is still refusing to walk away from Rangers.

Just one year and 14 days into his tenure as Ibrox manager, it was reported enough was finally enough for the man at the helm.

That, as things stand, is not quite the case. McCoist remains as manager and will do so until someone informs him his services are no longer required. He is trying, as much as he poss-ibly can, to refrain from walking away.

The latest speculation surrounding his future hasn't come as a direct result of the plight of the stricken club or the fact it was finally liquidated this morning in a meeting which lasted just eight minutes. Nor has it come because of the shambolic handling of off-the-field events.

Instead, it is being fuelled by an internal conflict which might just yet force McCoist into making the most painful decision of his career orB, more likely, leave owner-in-waiting with what would be a highly controversial and hugely unpopular decision of his own.

It is understood a catastrophic breakdown in the manager's relationship with Green has occurred with McCoist believing the businessman was preparing to commit the ultimate act of betrayal by axing him as manager.

Having held counsel with those closest to him, it is believed McCoist was frighteningly close to calling it a day. There was a feeling he had been left with no alternative but to resign from his position given the information he had obtained.

It would have also resulted in his assistant manager Kenny McDowall, first-team coach Ian Durrant and possibly other members of the Ibrox coaching staff quitting in a show of unity against the in-coming owner and support towards McCoist.

At the last minute, McCoist decided he simply couldn't go through with it. Having made a pledge to supporters and coined the phrase 'we don't do walking away', the manager decided he wasn't leaving his club in the lurch.

Attending today's creditors meeting at Ibrox Stadium, McCoist showed all the signs of a man with the weight of the world on his shoulders. In truth, he actually does have the weight of a football club on his shoulders in many ways.

But although he remains as manager today, how long that continues to be the case is very much open to speculation.

From the outside looking in, signs certainly appear to suggest McCoist is not the man Green or his backers see to take the club forward.

As news of McCoist's alleged resignation reached supporters, there was immediate anger at the treatment of a man who has become an even more iconic figure among the Light Blue legions for the way he has handled himself through the administration process.

If being the club's all-time leading goalscorer wasn't enough to secure McCoist legendary status for life, his refusal to leave the club in the lurch in their hour of need hasn't gone unnoticed by the supporters.

Most managers, finding themselves in the same situation, would have wasted no time in seeking an exit. Docked 10 points for entering administration, McCoist found himself managing a team which was deprived of any chance, however faint they were, of challenging for the title during the run-in.

He then found himself as the go-between as administrators Duff and Phelps took over control of the club and was heavily involved in trying to save the jobs of ordinary staff members as the players agreed to wage cuts of up to 75% to keep the club alive.

On top of that, he found himself directly involved in the bidding process to gain control of the club as he discussed the way forward with the various factions attempting to take over the club and then relayed the information back to the fans.

Instead of spending the last few weeks targeting new players for next season, McCoist has been left to head on a family holiday without knowing what league the club will be playing in or if all his players will become free agents.

But he was willing to carry on. He knows leading Rangers back from the depths of despair wouldn't be easy; he knows there might be years of suffering before the good times could return and he will only not continue with that challenge until he is actually sacked.

It would, most certainly, take either a brave man or a foolish man to follow out action. Whether Green is either of them remains to be seen. Currently, there will be more opposition to his take-over attempts in light of this information than ever before.

As the 13th manager in the club's history, it appears as though it has been unlucky for McCoist and also for the club. Today, he plans to stretch that reign to one year and 15 days. It will not be him who makes the decision to end this partnership.