BARRY Ferguson has resigned as manager of Clyde. The 39-year-old steps down from the Broadwood side after a poor run of results which has left the Bully Wee third from bottom of League Two and amid fevered speculation that his departure could pave the way for a return to Rangers in a coaching capacity.

Pre-season favourites to win League Two this season, Clyde have gone ten league matches with a win, and Ferguson offered his resignation following yesterday's 1-0 defeat to Annan Athletic. The board 'reluctantly' accepted it. He was immediately installed is the bookmakers' favourite to take over at Rangers, where he won five top division titles in two spells at the club.

"I want to wish the club all the very best in the future," said Ferguson. "I hope that it can go on and achieve its aim of reaching the play-offs this season."

"Despite a welcome run in the William Hill Scottish Cup, which ended with an agonising defeat to Championship side Ayr United in a fifth round replay, both the manager and the club were disappointed with the recent poor run of League results, often not reflecting the effort and standard of play, which culminated in the defeat at Annan yesterday," a Clyde statement read.

"That result leaves the club with only an outside chance of achieving the objective of securing a play-off place and then promotion to League 1.

"The club would like to thank Barry for his unstinting commitment to the job over the last two and a half years and wishes him every success in the future."