Ally McCoist has welcomed a Rangers return for Steven Gerrard and even opened the door for Jose Mourinho to take charge at Ibrox.
However, the Gers legend has warned Gerrard to think hard about his next foray into management, insisting he cannot afford another misstep.
Another club icon and former striker, Barry Ferguson, is currently in charge at Rangers on an interim basis until the end of the season, following the sacking of Philippe Clement in February.
Clement was axed after a defeat to St Mirren left them 13 points behind Celtic in the Scottish Premiership title race.
The Gers were also knocked out of the Scottish Cup by Queens Park and lost to League Cup final to their arch rivals Celtic – losing on penalties after a 3-3 draw in normal time.
Rangers are set to wait until their takeover by 49ers Enterprises goes through in May before appointing a permanent successor.
There is speculation over whether they might follow the McCoist route again and give the role to ex-striker Ferguson full-time.
The 47-year-old – whose previous management experience was in the English Championship with Blackpool, Lowland League side Kelty Hearts, Scottish League Two with Clyde and Scottish League One with Alloa Athletic – has won four of his ten games in charge.
Of those four wins, one was a 3-2 league victory over Celtic, while he overcame Mourinho’s Fenerbahce over two legs – winning on penalties – to secure a spot in the Europa League quarter-finals.
They were then knocked out of Europe on Thursday with a 2-0 away defeat to Athletic Bilbao, after a goalless first leg.
McCoist himself believes two giant names could be contenders for the job – Mourinho and Premiership-winning ex-Gers boss Gerrard – saying both would be managers of a suitable stature to kick off a new era under new ownership.
“I think both [Mourinho and Gerrard] could fit the bill in terms of stature and what they’d bring to the club and Scottish football in general,” he told talkSPORT Bet.
Ferguson has returned to Rangers as interim manager, and has been tipped by some to get the job full-timeGetty“But they’d both need proper financial backing. The current squad just isn’t strong enough.”
McCoist opened up on his beloved club’s struggles earlier this year on talkSPORT, admitting a huge overhaul is needed on and off the pitch to make Rangers competitive again and ensure the Scottish Premiership is no longer a one-horse race.
“The problems at Rangers go far greater than the manager at this moment in time, and a lot deeper,” he told colleague Jeff Stelling on talkSPORT Breakfast.
“I think we’ve got to get things sorted at the top level before anything else. It works its way down, as you know, if things aren’t right at the top.
“No full-time chairman, chief executive, director of football. There’s none of that happening at this moment in time, and that has to happen because I don’t care what anybody says, it must have an effect on the pitch, if things aren’t good off it.”
Mourinho, who has opened the door to managing in Scotland one day, is approaching the final year of his Fenerbahce contract, while Gerrard is currently on the market after ending his spell in Saudi Arabia without any success to show for it.
McCoist admits there a big problems behind the scenes at Rangers that need fixingtalkSPORT Lampard is rebuilding his career as manager of Coventry CityGettyMcCoist insists the legendary midfielder would be welcome back at Ibrox following his previous title success, but also urged him to follow ex-England teammate Frank Lampard’s example when it comes to choosing his next job.
“He’d be welcome back, of course. I mean, he won the title in his time at Rangers, and he would be welcome back,” he said.
“But it’s absolutely vital that his next job is the right one. It didn’t quite work out at Villa or in Saudi Arabia.
“It’s similar to Frank Lampard – his move to Coventry has been crucial in getting his managerial career back on track.
“Steven’s in that same position. His next step needs to be spot on.”
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