Rangers are actively searching for a new manager after parting ways with Russell Martin, with former Ibrox boss Steven Gerrard emerging as the overwhelming favourite to take the reins. Martin’s tenure ended abruptly on Sunday, just hours after a disappointing 1-1 draw with Falkirk. The 39-year-old departed after securing only one league victory in seven matches and a mere five wins across 17 games in all competitions, prompting the club to launch a new managerial search.

Attention quickly shifted to Gerrard, the Liverpool and England legend, who is now the odds-on favourite for a sensational return. Gerrard, 45, famously led Rangers to the league title in 2021 and has been out of work since leaving Saudi club Al-Ettifaq earlier this year. His previous departure from Ibrox to take on the Aston Villa job occurred almost four years ago.

Gerrard recently addressed the possibility of returning to management, citing unfinished business. Appearing on Rio Ferdinand Presents, he explained,

“I haven't been ready because I haven't got that team set around me. And the timing hasn't been right. My daughter's just had a baby. I've just become a grandad. I wasn't ready. I haven't got my staff ready.” He continued, “But if the right call comes my way, the right club, the right challenge, and I've got my people set, which I will have at some point, I'll take that challenge on because it's in me.”

Gerrard also noted that Rangers previously suited him “to a tee” and reiterated his desire to manage “at a team that's going to compete to win.”

Reports from the BBC and Sky Sports suggest Rangers are open to reappointing Gerrard but are awaiting confirmation of his personal interest in returning to Glasgow. TalkSPORT’s Ben Jacobs highlighted that the club is also evaluating financial considerations, including potential tax complications, as Gerrard is currently based in Bahrain after leaving Saudi Arabia nine months ago.

Rangers chairman Andrew Cavenagh and vice-chairman Paraag Marathe confirmed their hands-on involvement in the managerial search, admitting in an open letter to fans that errors were made in appointing Martin. While Gerrard remains the standout candidate, former Burnley and Everton manager Sean Dyche, once considered an early contender, has reportedly been ruled out.

Supporters are also strongly backing Gerrard’s potential return. Former Ibrox midfielder Andy Halliday, speaking on Open Goal, stated he would “definitely” take Gerrard back, noting that he “ticks most of the boxes” for the role. Halliday referenced financial nuances, saying,

“There’s a rumour that he needs to stay in Saudi for a certain time to get all his money tax free, so it’s whether Rangers and the 49ers will pay the extra to bring him back.”

With Gerrard’s proven track record at Ibrox and his expressed ambition for a competitive challenge, he remains the most compelling candidate as Rangers look to swiftly fill their vacant managerial position.