Rangers great Smith: McCoist should be praised for taking pay cut
Rangers legend Walter Smith believes current manager Ally McCoist deserves credit for taking a pay cut.
McCoist had been criticised for staying on his original wage of £825,000-a-year before agreeing to a cut after the Ibrox club ran at a loss of more than £14million in the wake of the oldco club falling into administration in 2012.
Smith, who worked closely with McCoist before he end his time as manager in 2011, feels McCoist has done the club a huge service by agreeing to less money and should be praised for his selflessness.
"People have to remember that contract was signed when Rangers were in the Premier Division and had an opportunity of getting to the Champions League," he said.
"That's where that started and I don't think it was any of his doing that Rangers have ended up in the situation they're in.
"They've adjusted to that now, everyone has made it clear what's going to happen, and Alistair has agreed to take a cut.
"It's good of him to do that because he's put his career on the line - I don't think he'd ever have imagined managing Rangers in the circumstances that they find themselves in."
McCoist currently has 'Gers sitting eight points clear on top of the Scottish League One table with a goal difference of plus 32 after just eight matches.
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