Shell-shocked Rangers fans have reacted with sadness and appreciation as Dave King announced he is stepping down as chairman.
The South Africa based businessman has put the timescale for his departure at approximately four months once a plan for a smooth handover of power has swung into force.
Rumours of the departure had gathered speed in recent days but few imagined that King would depart mid-season with such a close run title race in the offing.
The tittle-tattle was confirmed as a tearful King took to the podium to announce he was calling time on his chairmanship and revealed the reasoning behind his departure.
He said: "The hard work of recovery is now done and I intend to step down from the board in the new year as soon as the new funding round has been concluded by the sub-committee and the new devolved operating structure for the club that was approved yesterday has been fully implemented.
"I estimate that will take about four months.
"I would not step down if the club continued to need my services and support. But it doesn't."
When King wrested control of the club in 2015 it was struggling in the Championship - he will depart with the team challenging strongly for the Premiership and established in the Europa League group stages.
Fans took to social media to register their thanks for the chairman's role in the club's recovery.
