Barry Ferguson has resigned as Clyde boss, with some bookmakers making him the favourite to fill the vacant role of Rangers manager.

The former Gers captain quit following Saturday's 1-0 defeat to Annan Athletic, leaving Clyde without a win in their last 10 Scottish League Two fixtures.

Some bookmakers have subsequently made Ferguson the favourite to take over at Rangers, although no link of any genuine substance has been established.

"The board has today reluctantly accepted the resignation of first team manager, Barry Ferguson," a statement from Clyde read.

"Despite a welcome run in the Scottish Cup, which ended with an agonising defeat to Championship side Ayr United in a fifth round replay, both the manager and the club were disappointed with the recent poor run of league results, often not reflecting the effort and standard of play, which culminated in the defeat at Annan yesterday.

"That result leaves the club with only an outside chance of achieving the objective of securing a play-off place and then promotion to League One.

"The club would like to thank Barry for his unstinting commitment to the job over the last two and a half years and wishes him every success in the future."