Magilton has been suspended by Rangers after allegations that he head-butted the Hungarian after the 3-1 defeat at Watford on Monday.[LNB]The 40-year-old insists he is looking forward to being reinstated following the club's investigation.[LNB]The former Northern Ireland international said in a statement: "While passions can run high in football, especially after a poor performance, I categorically deny any allegation of wrong-doing following Monday's fixture. I understand that the club has initiated an internal investigation, with which I will cooperate fully.[LNB]"This is an unfortunate situation and I look forward to resuming my responsibilities shortly."[LNB]A club statement earlier on Wednesday said: "The club can confirm that manager Jim Magilton has been suspended with immediate effect, pending an internal investigation.[LNB]"The suspension relates to an incident which occurred at Monday's Championship fixture against Watford at Vicarage Road.[LNB]"The club will be making no further comment at this stage."[LNB]Rangers have appointed youth team managers Steve Gallen and Marc Bircham as joint caretaker managers in the interim.[LNB]They said in a statement: "The club can confirm that youth team managerial duo Steve Gallen and Marc Bircham have been placed in temporary charge following the news that manager Jim Magilton has been suspended.[LNB]"The pair will be in charge of the Rs' Championship fixture against West Bromwich Albion on Monday night.[LNB]"A further announcement regarding the futures of John Gorman and Keith Ryan will be made in due course."[LNB]Magilton is the second manager this week to be embroiled in a high-profile clash with a player, following Stoke manager Tony Pulis' alleged head butt on James Beattie after the defeat to Arsenal at the weekend.[LNB]Ulsterman Magilton allegedly reacted furiously to Buszaky's response when he asked whether he thought he was being bullied.[LNB]Patrick Agyemang then reportedly stepped in to intervene, condemning Magilton for the unprovoked attack, while Buszaky stormed out the dressing room.[LNB]The former Plymouth playmaker has since reportedly threatened to press charges over the incident and his representative was reported to have met Rangers chairman Gianni Paladini on Tuesday.[LNB]Magilton's future at Loftus Road is now in jeopardy following his suspension, pending a full internal investigation.[LNB]The 40-year-old, who penned a two-year deal at Rangers in June, has seen his team win just one of their last seven matches and concede eight goals in their last two games.[LNB][LNB] Coca Cola Championship. Click here to bet.