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John Gregory, the former Aston Villa and Derby County manager comes in.
Waddock took over from Ian Holloway in February. The club finished 21st in the Championship last season, one place above the drop and so far this season Waddock's side are bottom of the league and were last night knocked out of the carling Cup by a League 2 side.
John Gregory has a lot to do to halt the slide and set Rangers going in the right direction.