Rangers have been warned that their next managerial appointment could be a "monumental gamble" following Steven Gerrard's rejection.
Steven Gerrard had held talks with the club's hierarchy in London, but ultimately turned down the chance to return to Rangers for a second spell.
The club is still searching for a replacement for Russell Martin, who was sacked after just 123 days in charge. Rangers currently sit eighth in the Scottish Premiership table, following a poor start to the season.
Rangers could be taking a massive risk on their next managerial appointment.
Author's summary: Rangers face a risky managerial appointment decision.