RANGERS legend Derek Johnstone insists it is time for the Ibrox board to back or sack Ally McCoist after he submitted his notice and confirmed his intention to step down yesterday.

The Gers boss sent shockwaves through Scottish football with the surprise call that has left the under-fire board with a huge decision to make.

McCoist was in the dugout for Rangers' Championship clash with Queen of the South last night, but his time as manager is now coming to a close.

Rangers' perilous financial position means the board are unlikely to find the cash, in the short-term at least, to be able to pay the 52-year-old off.

McCoist is set to bring the curtain down on his Rangers career in 12 months, and DJ insists it is decision time for the Light Blues hierarchy.

He told SportTimes: "Ally has not resigned. It is up to the board now. Ally is here for another year and that is it and he has given them his notice. If he wanted to walk away, he would have done that now. He hasn't done that.

"The board have to make a decision. They can get rid of him any time between now and next year or they can let him run his contract down. If they are so desperate and want rid of him, they will pay him up now and let him go.

"Ally has put the pressure on the board. If they don't want him, now they have the chance to get rid of him if they so wish. The board can't afford financially to sack Ally, but he has put the ball in their court.

"There is no more asking Ally to resign. It is the their decision to make now. He is gone in a year, so do they want to keep him?

"If anyone else in any job was to hand in their notice and leave before that notice was up, they would be entitled to look for money. Ally is doing what anyone else would do. Now it is the board's call."

The news that McCoist had handed in his notice is the latest drama in the long-running Rangers saga and his departure will bring an end to a tumultuous managerial tenure at Ibrox.

The Light Blues legend has guided the club to successive titles as they make their way back from financial meltdown and set their sights on a return to Scottish football's top flight.

And DJ insists McCoist's efforts should be appreciated more by fans after he was the subject of a barrage of abuse from the stands during the defeat to Hearts last month.

He said: "What has annoyed me through it all is the personal abuse he has suffered. It has been scandalous. If you are not happy with how the team is doing, you are entitled to make your views known.

"But the manager didn't deserve the personal criticism and abuse that has come his way. I know it came from a minority of fans at Tynecastle, but it was way out of order.

"It is about respect here. Ally McCoist is an absolute legend and has done so much for Rangers Football Club for decades. He deserves a bit more respect than what he has been getting recently.

"He has decided to hand in his notice and will step down in a year, unless the board decide otherwise.

"No matter if he stays until the end of the season or this time next year, the man is committed to his football club.

"Whatever he does, he will do to the best of his ability. He will give his absolute all until his time as Rangers manager comes to an end."