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Graeme Souness has paid tribute to Ally McCoist for the "great job" he has done as Rangers manager during one of the most turbulent periods in the club's history.
McCoist has been credited with having a major role to play in holding Rangers together during the turmoil of administration and subsequent liquidation.
He has now been tasked with leading the Light Blues back to the top level in Scottish football after Charles Green's newco was re-launched in the Irn-Bru Third Division.
Souness acknowledged the job facing his former player McCoist is very different from the one enjoyed by himself, Walter Smith and Dick Advocaat during the big-spending years at Ibrox.
He said: "They are starting from a very difficult place and, right now, Ally is doing a great job and he has done in his time as manager under very difficult circumstances.
"It's poles apart from the job I had when I was there, the job Walter had when he was there and Dick Advocaat, to what Ally is faced with now.
"You're talking about two different jobs in football, although managing the same club."
Souness believes Smith's decision to join the Rangers board brings enormous credibility to the Green regime at Ibrox.
The club announced on Sunday former manager Smith and retired Glasgow businessman Ian Hart had accepted the role of non-executive directors.
The moves comes five months after Smith tried to lead a bid to buy out Green's consortium, who purchased the business and assets of Rangers for £5.5million after they were consigned to liquidation in the summer.
Green rebuffed those attempts and instead tried to persuade Smith to join his group.
And, having now succeeded in bringing the veteran boss on board, Souness - who was at the Ibrox helm between 1986 and 1991 - says the businessman has pulled off a major coup.
He said: "It's a good move. Walter is Mr Rangers in modern history and it can only be good for the club.
"Walter is very much his own man and the credibility that brings to Rangers now is enormous.
"No-one knew Charles Green coming in to Rangers. So far, so good.
"But, in my opinion, if I was a Rangers supporter, I would be very, very happy that Walter is involved again."
Meanwhile, Green expects the Scottish Football League to unveil plans for league reconstruction this week.
He says SFL clubs will meet on Wednesday to discuss possible changes to Scottish football.
Green will be unable to attend the talks personally as he will be south of the border with roadshows aimed at generating further investment in Rangers.
He told Talksport: "I understand that the Football League on Wednesday are having a meeting of clubs and it's the intention of the executive to unveil what they think would be a restructuring plan for Scottish football.
"I won't be there unfortunately because we are doing the presentations in London but one of the other directors and the club's secretary will be there so we will find out what the SFL plan is."