Rangers confirmed on Sunday evening that Martin had been relieved of his duties, adding: “While all transition periods require some time, results have not met the club’s expectations.
“Russell and his staff have worked exceptionally hard throughout their time at the club. We thank them for their efforts and wish them well for the future. Further updates from the club will follow in due course.”
The search for a replacement has already begun, with bookmakers listing Gerrard among the favourites for the role. Should he be appointed, it would mark a return to the club where he was first given his chance as a senior manager.
Gerrard assumed control at Rangers in 2018 following a spell overseeing Liverpool’s youth sides. During his three-year spell, the club secured the Scottish Premiership crown in the 2020/21 campaign.
He subsequently joined Aston Villa in November 2021, though his spell proved brief as he was dismissed less than 12 months later.
Gerrard’s latest managerial post came with Saudi Pro League side Al-Ettifaq, which he departed in January.
According to The Guardian, those in power at Ibrox view Gerrard as a ‘serious candidate’ for the now empty hot seat. Nevertheless, he is understood to be up against Danny Rohl and Sean Dyche, both of whom are presently without a club.
Other reports have claimed that Rangers held talks with Gerrard in the summer, but an appointment failed to materialise before they eventually went with Martin.
In the meantime, ex-Rangers chairman Dave King has thrown his weight behind Gerrard making a comeback to Ibrox.
Speaking to STV, he said: “I would love to see Steven back at the club. He’s a winner and will get more out of the squad than we have witnessed so far.
“We have been watching a team that doesn’t seem to have a plan for what to do when in possession and when out of possession. Steven would quickly sort that out.”