The former Liverpool captain has been in the spotlight of discussion since Rangers dismissed Russell Martin on Sunday, and the ex-coach is set to talk about a possible return with the team's leadership.
Those in charge at Rangers announced that a "thorough, considered hiring process" is currently in progress.
Other candidates are set to be reviewed, but if ex Liverpool and England captain is willing to a second stint at Ibrox, is the job essentially his?
The mid-forties coach lately spoken about “unfinished business” in coaching and revealed he has started contacting potential members for his backroom team.
In a recent podcast interview with the former defender, which seemed to be recorded prior to Martin's brief reign concluded, Gerrard stated he wanted “to be at a club that's going to compete to win because I think that fits me more”.
He added: “If the suitable offer arrives, the right club, the right challenge, and I've got my people set, which I plan to have at a future date, I'll accept that role because it's in me.”
After gaining knowledge as a academy coach at Anfield, Gerrard took on his first managerial role in the mid-year of 2018.
During three full campaigns at Ibrox, he won just one trophy – but it proved significant.
After finishing 13 and nine points behind their rivals in his first two campaigns, Gerrard guided Rangers to their maiden top-flight title in a decade, which coincidentally deny their Glasgow rivals an unprecedented 10-in-a-row win.
And he achieved it in style, with his team unbeaten in the process.
Rangers triumphed in all of their domestic games, scored 92 goals and allowed a only 13.
The downside was that it occurred against a backdrop of Covid and fanless grounds.
It remains Rangers' only league triumph since the 2010-11 season.
In stark contrast to Martin's disappointing spell, Gerrard hit the ground running at Rangers, going 12 games without defeat until his initial trip to Celtic Park.
In his first campaign the derby honours were even, each side earning two domestic wins, with Rangers having previously defeated Celtic in 2012.
Two losses to Celtic came in the next truncated season, after which Rangers winning in the east end of Glasgow for the first time since 2010.
After that, Gerrard stayed undefeated in Old Firm clashes, claiming five additional and tying once.
Rangers came through four stages of qualifying to enter the group stage of the Europa League in Gerrard's debut season.
In 2019-20, they progressed to the knockout rounds of the identical competition, being eliminated to Bayer Leverkusen in the round of 16, with their journey ending at the same stage the following season.
Aston Villa made an approach in November 2021, paying £4.5m in compensation.
He departed Rangers with a lead ahead of Celtic at the top of the table – however their city rivals would claw that back to win by the identical gap.
The lure of the Premier League is strong and it could have been seen as the next logical step on a dream comeback to Liverpool at a point when his managerial stock was at its peak.
“Steven and his backroom staff have made sure that the club is clearly in a stronger position today than it was several seasons ago,” commented at the time Rangers sporting director Ross Wilson.
“We have shared a goal to move Rangers forward, to update our infrastructure and to make the club win again.”
Gerrard failed to complete a full season at Aston Villa.
Inconsistent results yielded a 14th-place finish at the end of the 2021-22 campaign before a three-goal defeat at Fulham placed them 17th in autumn 2022 when he was dismissed.
During 2022, he secured only eight of his 31 games, suffering defeat in 15.
He moved to Saudi Arabia in summer 2023 when he assumed control at Al-Ettifaq.
His latest role lasted a year and a half and he departed with the team sitting 12th in the Saudi Pro League, only five points above the relegation zone.
“Overall, I have gained valuable experience, and it's been a beneficial experience for me and for my family,” he remarked in the end of January. “But football is unpredictable, and at times things don't go the way we want.”
These after Rangers experiences could cause some hesitation and the man himself may have concerns over inheriting a struggling team, but Gerrard probably has the personality to handle such a high-profile post.
He is the sole Rangers manager to have won the league trophy since the great Walter Smith. That achievement could be difficult to overlook for an under-pressure Rangers leadership.
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