The former Liverpool captain is in the spotlight of discussion after Rangers parted ways with Russell Martin on Sunday, while the former manager is set to talk about a possible comeback with the team's owners.
The decision-makers at Rangers announced that a "thorough, considered recruitment procedure" is now in progress.
Additional names will be reviewed, but if ex Liverpool and England skipper is willing to a second stint at Ibrox, is the job as good as his?
The 45-year-old coach lately mentioned about “unfinished business” in management and revealed he has begun contacting potential staff for his coaching team.
In a recent audio interview with the former defender, appearing to be filmed prior to Martin's brief reign ended, Gerrard stated he wanted “to be at a team that's going to compete to win because I believe that suits me more”.
He added: “If the suitable offer comes my way, the appropriate team, the correct opportunity, and I've got my people set, which I will have at some point, I'll take that challenge on because it's part of my nature.”
After gaining knowledge as a academy coach at Liverpool, Gerrard accepted his maiden coaching role in the summer of 2018.
Over three full campaigns at Rangers, he won only a single trophy – however it proved significant.
After finishing 13 and nine points behind Celtic in his initial pair of seasons, Gerrard led Rangers to their first top-flight title in a ten years, which coincidentally deny their Old Firm rivals an historic tenth consecutive title.
And he achieved it in style, with his team unbeaten throughout.
Rangers won all of their home games, netted 92 goals and allowed a only 13.
The drawback was that it occurred amid of Covid and empty stadiums.
It remains Rangers' only title success since 2010-11.
In stark contrast to Martin's unhappy spell, Gerrard hit the ground running at Rangers, going 12 games unbeaten until his first visit to Parkhead.
In his first season the Old Firm honours were shared, each side earning two domestic wins, with Rangers having last beaten Celtic in 2012.
Two losses to Celtic occurred in the next truncated season, followed by Rangers securing a victory in the eastern part of Glasgow for the first time since 2010.
After that, Gerrard stayed unbeaten in derbies, claiming five more and drawing once.
Rangers progressed through four rounds of preliminaries to reach the main phase of the European competition in Gerrard's first season.
In the 2019-20 campaign, they progressed to the elimination stage of the same tournament, losing out to Bayer Leverkusen in the last 16, with their run concluding at the same stage the next year.
Aston Villa came calling in late 2021, forking out £4.5m in fees.
He left Rangers with a lead ahead of Celtic at the top of the table – however their local opponents would claw that back to win by the identical gap.
The lure of the Premier League is strong and it may have been seen as the natural progression on a dream comeback to Liverpool at a time when his coaching reputation was at its peak.
“Steven and his coaching team have made sure that the team is undoubtedly in a better place today than it was three-and-a-half years ago,” commented at the time Rangers football executive Ross Wilson.
“We have had a goal to advance the club, to modernise our infrastructure and to return the team to winning ways.”
Gerrard did not last a year at Villa Park.
Inconsistent results yielded a 14th-place position at the conclusion of the 2021-22 campaign before a 3-0 defeat at Craven Cottage left them in 17th in autumn 2022 when he was dismissed.
During 2022, he secured just 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 job continued for 18 months and he departed with the club sitting in 12th in the Saudi league, only five points clear of the relegation zone.
“Overall, I have gained valuable experience, and it's been a positive experience personally and for my loved ones,” he remarked in late January. “But soccer is unpredictable, and at times events don't unfold the way we want.”
Those after Rangers exploits may give certain pause for thought and the individual may have concerns over taking over a underperforming team, but Gerrard likely has the personality to manage such a high-profile position.
He is the sole Rangers manager to have lifted the championship since the legendary Walter Smith. That achievement could be difficult to overlook for an under-pressure Rangers leadership.
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