Next Rangers manager odds: Russell Martin confirmed as new boss

*** UPDATE - Betting on the next Rangers manager has been suspended now that former Southampton boss Russell Martin has now been confirmed as the club's new head coach ***

Steven Gerrard is the odds-on favourite to return to the Ibrox according to the next Rangers manager odds released by Ladbrokes.

The England international managed Rangers between 2018 and 2021. Before leaving for Aston Villa, Gerrard won the Scottish league title in this final full season at the club, doing so without losing a single league match.

After leaving Villa in 2022, Gerrard went on to become Al-Ettifaq manager in Saudi Arabia, coaching the likes of Gini Wijnaldum and former team mate Jordan Henderson.

The Liverpool legend left Saudi Arabia earlier on this year, however, it already seems like he's on his way back into management.

Rangers are in the market for a new manager before the beginning of the 2025/26 Scottish Premiership season, and the club may be looking to appoint one of its former coaches, Gerrard.

The Ibrox faithful look back fondly on Gerrard's time as manager, with the iconic midfielder helping Rangers beat Celtic to the league title in 2021.

Gerrard did so well at Rangers that may fans were tipping him to take over from Jurgen Klopp and become Liverpool's next manager.

However, his spell at Villa didn't go asC well as he'd have hoped, with Gerrard being forced to settle for a role in Saudi Arabia, rather than fighting for European and domestic honours with his boyhood club.

Despite that, Gerrard may be about to get things back on track with regards to his managerial career, with the bookies tipping the 2005 Champions League winner as the favourite return to Rangers as the club's next manager.

An interesting name under consideration, according to reports, to become Rangers' next manager is Davide Ancelotti.

Davide is the son of legendary manager Carlo Ancelotti, currently serving as his father's assistant at Real Madrid.

However, with Carlo set to depart Los Blancos this summer for the Brazilian national team job, and Real Madrid expected to appoint Xabi Alonso, Davide finds himself without a club.

Despite having only ever been an assistant, Davide is a name being considered by Rangers, so much so that Ladbrokes has him as the second-favourite for the job, behind Gerrard.

Also in the running is Russell Martin, the main who led Southampton into what many are calling one of the worst Premier League seasons in history, a claim that is backed up by the Saints' points tally.

Despite that, Martin is well regarded within the game, and many feel a club like Rangers, who are one of the better sides in their league, would suit the manager's play much more.

Marco Rose is the fourth favourite, according to Ladbrokes, but the assumed probability of the German becoming Rangers' next manager is 69% lower than Gerrard's, so it's definitely a longshot.

The favourite for the job, Gerrard, is one of the most legendary English players of the 21st century, but the bookies don't have him as the only Premier League legend with a shot at becoming Rangers' next boss.

Also with odds on becoming Rangers' next manager are Frank Lampard, who guided Coventry into the Championship playoffs, and Man United bagsman Wayne Rooney.

Also in the running are Gary O'Neil, Jack Wilshere and Tom Cleverly, all of whom have played in the Premier League.

Sean Dyche and Rob Edwards coached in the 2023/24 Premier League campaign, and both are in the running to become Rangers' next boss, but remain outsiders.

Also a long shot, according to the bookies, is Jose Mourinho, but with an assumed probability of less than 3%, the bookies really don't think it's likely to happen.

View the latest football odds here.

All odds and markets are correct as of the date of publication.