The Scot has revealed he was close to leaving Ibrox after rumours surfaced he would be sacked, but says he is set to stay after holding talks with new owner Charles Green
Green completed his takeover of the debt-ridden Ibrox side on Thursday amidst rumours that he wished to replace the Scot as manager.
But McCoist has since been assured that he will remain in charge next season, with the club set to be renamed 'The Rangers FC' after entering liquidation.
"At first when I was told there might have been a move to get me out my reaction was natural: I was furious," the 49-year-old told The Daily Record.
"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.
"It was clear we had to sit down and talk about all of this and we had another meeting yesterday [Friday]. I've reassessed my position and taken a step back from the brink. As things stand at the moment I am still manager."
McCoist also insisted that his priority now is securing the future of Rangers, with the club currently awaiting a decision on whether they will be allowed to play in the SPL next term.
"At critical times we all have to consider our futures, but having said that the most important thing is not my future or what happens with Charles Green," he added.
"The most important thing is the future of my club. Right now that is all that matters. So let's all just see what happens but it must always be the right thing for Rangers."