Having taken over from Steven Gerrard in November last year, van Bronckhorst guided the Old Firm side to the Europa League final where they were beaten on penalties by Eitur Frankfurt.

They did manage to win some silverware lifting the Scottish Cup, however they ceded the League to their arch rivals Celtic and this season find themselves nine points behind them.

Qualifying for the Champions League this season proved a blessing and a curse, as they went on to record the worst showing in Champions League group stage history, failing to pick up a single point.

In a statement club Chairman Douglas Park said, "I want to thank Gio for the hard work he has put in over the last 12 months and, especially, the achievements of taking the club to the Europa League final and winning the Scottish Cup last season," said Rangers chairman Douglas Park.

"Unfortunately, recent results have not met neither our nor Gio's expectations, and we have taken this difficult decision today. Everyone at Rangers wishes Gio every success in the future."