Rangers confirmed that interim manager Barry Ferguson will not continue in charge next season as the Glasgow giants step up their search for a new boss.

A former captain of the club, Ferguson took the reins in February following the sacking of Philippe Clement.

He enjoyed famous victories over Jose Mourinho's Fenerbahce in the Europa League and away to fierce rivals Celtic.

However, Ferguson won just six of his 15 matches in charge as Rangers finished the campaign 17 points adrift of Celtic at the top of the Scottish Premiership.

"I've already lived the dream as a player and as captain of Rangers and to do so as head coach in these last three months has been an enormous honour for me," Ferguson said in a club statement.

"There have been some ups and downs, but I have loved this experience and given it my all throughout."

Rangers chief executive Patrick Stewart said the search for a new head coach is "progressing well".

Davide Ancelotti, son of outgoing Real Madrid coach Carlo Ancelotti, has been linked with the post in what would be his first managerial job after working as a coach as part of his father's backroom team.