Rangers have announced that Mark Warburton has resigned from his managerial position with the club.
In a statement, the Scottish outfit have also confirmed that Warburton's assistant manager David Weir and the club's head of recruitment Frank McParland have also departed.
Warburton, 54, took charge of Rangers on a three-year contract in the summer of 2015 and led the Gers to a league and cup double.
The former Brentford boss departs Rangers with the club sitting third in the Scottish Premiership table, 27 points behind league leaders Celtic after just one win in their last five league matches.
"Rangers has accepted the resignations of manager Mark Warburton, assistant manager David Weir and the club's head of recruitment Frank McParland," read a club statement.
"At a meeting with the management team's representative earlier this week the club were advised that Mr Warburton, Mr Weir and Mr McParland wished to resign their positions and leave the club on condition that Rangers agreed to waive its rights to substantial compensation. Rangers' agreement to waive compensation would assist the management team to join another club.
"This compensation amount was agreed when Rangers significantly improved Mr Warburton and Mr Weir's financial arrangements before the start of this season. The board urgently convened to consider the offer made on behalf of the management team and its ramifications and agreed to accept it and release the trio from the burden of compensation, despite the potential financial cost to the club.
"It is important that Rangers has a football management team that wants to be at the club and that the board believes can take the club forward to meet our stated ambition to return to being the number one club in Scotland. We are clearly short of where we expected to be at this time."
Under-20 coach Graeme Murty has been appointed the first-team manager on an interim basis.
