Rangers chief executive Martin Bain insists the club could not wait any longer for takeover activity to be settled before confirming the appointment of Ally McCoist as their next manager.
Lanarkshire-born businessman Craig Whyte reached an agreement in principle with majority shareholder Sir David Murray in early December but a formal offer has not been forthcoming.
Although there have been suggestions that such a deal could still be pushed through in the coming weeks, Bain felt Rangers had to make plans for next season with manager Walter Smith stepping down at the end of the current campaign.
McCoist accepted Bain's offer of the manager's job in December and Rangers announced the appointment on Monday, calling a media conference at an hour's notice. However, Bain denied the timing had any significance in respect to the future ownership of the club.
"Takeovers have been discussed for some time and while there has been activity, I can't run this football club as chief executive waiting for something to happen," Bain said. "It's business as usual for us and it's very important that we get the key people in place for next year.
"I have got a duty to our supporters to let them know who will be in charge at the end of the season. Rangers have to be run in the way they should be run regardless of the circumstances."