Former Liverpool midfielder Steven Gerrard has been ruled out of a shock return to Rangers until at least the summer with Barry Ferguson set to take the reigns until the end of the season.

The former skipper is in the hot seat until the end of the season with Gerrard's name floated as Philippe Clement's permanent successor

Steven Gerrard is among the leading contenders in the betting to replace Philippe Clement as Rangers manager. The Belgian was sacked by the Ibrox club on Sunday following a poor run of results, which has seen them lose consecutive home games to Championship side Queen's Park and St Mirren.

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Steven Gerrard is the favourite to become the next manager of his former side, but he will be forced into waiting due to finances

Steven Gerrard is the early favourite to be appointed Rangers manager, with the former Ibrox boss a free agent after leaving Al-Ettifaq. (Sun), external. Norwich City first-team c

Clement said the display in the 2-0 defeat by St Mirren as ‘by far the worst I've seen in all the time I've been here’ and he was sacked the following night

Rangers legend McCoist can see Gerrard’s return happening, but admitted he had hoped a different former Three Lions midfielder would get the job. ‘The decline in the club –

Rangers Football Club has officially parted ways with manager Philippe Clement following a string of disappointing performances. The decision comes after Rangers suffered a 2-0 defeat to St Mirren, leaving them trailing Scottish Premiership leaders Celtic by 13 points.