Ally McCoist has admitted he considered stepping down this week before deciding to remain as manager of Charles Green's Rangers.
McCoist was "furious" after hearing second-hand reports that Green wanted to replace him.
The former Rangers striker decided to stay after a meeting with Green on Friday, but the Ibrox chief executive still faces a fight to get fans to buy into his newco club.
McCoist told the Daily Record: "At first, when I was told there might have been a move to get me out my reaction was natural. I was furious.
"I did confront Charles Green about it on Wednesday. I was looking for answers and that meeting didn't end well.
"I was then left with no other option, but to contemplate my future believing that I wasn't part of the plans."
After the talks with Green, McCoist said: "I've reassessed my position and taken a step back from the brink. As things stand at the moment I am still manager."
Green has faced pressure to sell his club to a consortium led by former Rangers manager Walter Smith and McCoist stressed that the future of his club was all that mattered rather than his future and his relationship with Green did not matter.
"So let's just see what happens but it must always be the right thing for Rangers," he added.McCoist was warned about his future by Dave King, who is a director of the original Rangers company, which was consigned to liquidation this week.
King claims Green said he would not continue with a manager at the wage level McCoist is on, during a phone call when he was asked to invest in the new company.
But Green urged McCoist to stay on and dismissed the story as "rubbish" after completing his £5.5million purchase of Rangers' assets and business on Thursday.
King has vowed to travel to Glasgow from his home in South Africa in the coming days to help Smith's consortium plan their potential bid to Green.
The Sevco consortium publicly hinted they would not accept anything less than £20million to immediately sell on the new company but many fans are holding off on buying season tickets as they back Smith.
However, one of Green's closest business partners claims the former Sheffield United chief executive will stand firm.
Mike McDonald, who was chairman at Bramall Lane and plans to invest in transfers with Rangers, told the Daily Mail: "Charles has saved the club. And look at the thanks he is getting.
"He has done exactly what he said he would do. And he can take the abuse, be in no doubt.
"Where were Walter Smith and his team when David Murray and Craig Whyte were running the club into the ground?"
The takeover attempts come as the Scottish Premier League board prepare to meet on Monday, after next season's fixtures are published, to discuss an application from Green's Rangers to join the league.
Fourteen days' notice is required for the 12 clubs to meet to vote on the proposal, leaving July 2 as the likely date for the club's league status to be resolved.