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Rangers chiefs Andrew Cavenagh and Paraag Marathe have admitted they made a mistake with the appointment of Russell Martin - and have vowed to win back the trust of supporters.
Martin was finally sacked late on Sunday night following a 1-1 draw at Falkirk which saw him leave the stadium via a police escort as furious fans formed a blockade around the team bus.
He signed a three-year deal when he joined the Ibrox club in June but departed after only four months after Cavenagh personally stepped in and pulled the trigger following a woeful start to the season.
Martin leaves as the shortest-serving manager in Rangers’ history, holding the post for 123 days and presiding over just five wins from his 17 matches in charge across all competitions.
Club sources have indicated that Rangers are keen to move quickly in their search for a successor and ideally will have a new manager in place by the time they face Dundee United at Ibrox on Saturday October 18.
Sean Dyche and Steven Gerrard are the early frontrunners for the role, with Kevin Muscat, Danny Rohl and Mark van Bommel also under consideration.
Russell Martin is unveiled as Rangers manager by Patrick Stewart and Kevin Thelwell
Martin's reign was soon no laughing matter, however, as his side struggled badly
Vice-chairman Paraag Marathe (left) and chairman Andrew Cavenagh eventually decided enough was enough and sacked Martin
In an open letter to supporters on Monday night, Rangers chairman Cavenagh and vice-chairman Marathe stressed the need for urgency whilst admitting the appointment of Martin was a serious error of judgment.
The statement read: ‘Dear supporters. As you have seen by now, we are making a change at Rangers and have parted ways with Russell Martin, Matt Gill, and Mike Williamson with thanks for their hard work.
‘When we took over the club this summer, we shared what we want to build for Rangers - to win trophies in Scotland and be able to compete at a high level in Europe.
‘We know achieving these goals will take time, but our performances and results have not been good enough.
‘We know you are frustrated - we are too. We did not get this right, and it’s our responsibility to fix it and get us back on track.
‘A rigorous, thoughtful recruitment process is already underway, and we are treating it with the urgency it deserves.
‘The two of us are deeply involved, and the evaluation will have our full attention until we are confident we have a leader with the character and skillset to deliver results.
‘Moving forward, we are fully confident in our players, who possess the talent and determination to succeed.
‘At the same time, a great deal of important work is progressing across the club, building out a stable leadership and football structure under Patrick and Kevin’s guidance, advancing detailed plans aligned with our long-term strategy, and beginning the early stages of investment planning for Ibrox.
‘Your focus will rightly be what is happening on the pitch, but this work also matters, and it will help lay the foundation for success in the future.
‘Change is never easy. But we are not deterred by hard work - in fact we see a great opportunity ahead. The season is not over and we have plenty to play for in all four competitions.
‘Together we are committed to delivering the performances and results that you can be proud of.
‘Your loyalty to this club, through thick and thin, is something we do not take for granted. We see the effort and emotion you put into supporting Rangers, and it drives us every day.
‘We intend to earn your trust, because we all share the same goal - restoring success to Rangers.’
The Rangers fans had been calling for Russell Martin to go for most of the league season
The recruitment process to appoint Martin back in the summer was predominantly handled by sporting director Kevin Thelwell and Gretar Steinsson of the 49ers Enterprises.
But club sources have indicated that Cavenagh and Marathe are likely to take a much more hands-on approach this time around in the search for a successor.
Despite a poor start both domestically and in the Europa League, the Rangers hierarchy are not willing to write the season off.
To that end, they are keen to avoid another repeat of the saga which saw Barry Ferguson placed in interim charge for the final few months of last season.
They want a permanent manager in place and will move as swiftly as possible to make it happen, with Dyche and Gerrard being the two high-profile targets in the early stages of the recruitment process.
Dyche has support within Ibrox from his time working with Thelwell at Everton, but Thelwell’s influence in picking the new manager will be far less significant than it was in the summer.
Gerrard, meanwhile, held talks with Rangers prior to the appointment of Martin but expressed a reluctance due to personal circumstances and having to uproot his family from their home in Bahrain.
Daily Mail Sport understands that whilst he holds Rangers in high regard and would be open to a return in the future, his circumstances have not changed since those talks a few months ago.
