The Rangers board were forced to return to the drawing board at the weekend after Kevin Muscat became the latest man to reject the club’s offer of being their new manager.
Sacked after just 123 days in the role, head coach Russell Martin was relieved of his duties following the 1-1 draw with Falkirk over a fortnight ago, and while club chairman Andrew Cavenagh and vice-chairman Paraag Marathe were hopeful of finding his successor quickly, under-19 coach Steven Smith took charge of their 2-2 draw with Dundee United at the weekend.
Previously, bookies had suspended betting on the former Ibrox boss Steven Gerrard returning as Martin's successor, with reports claiming a deal that would see the 45-year-old complete a sensational reunion with the club was ‘close’ following constructive talks with the club’s hierarchy in London. However, those talks also broke down, with reports saying the ‘timing’ was not right for the former Liverpool midfielder.
So, who is the current favourite to be the next manager at Rangers? Here are the latest odds for the next permanent Rangers manager.*
*All odds are offered by Bet365 and can change at any time. Please gamble responsibly.

5. Slaven Bilic - 20/1
The former West Ham United and Watford boss has been out of work for over a year. The Croatian is another named as an outsider for the vacant Ibrox role. | AFP via Getty Images Photo: Getty Images

6. Sean Dyche - 20/1
Despite reports claiming he had ruled himself out of the running early in the process, the ex-Everton and Burnley manager is priced at 20/1. | Submitted Photo: Submitted

7. Derek McInnes - 20/1
Named as a candidate whenever the Rangers vacancy is available, it is highly unlikely McInnes opts to leave Hearts after leading the Tynecastle outfit to the top of the Scottish Premiership, and five points clear of Celtic. | SNS Group Photo: SNS Group

8. Michael Carrick - 18/1
The former Manchester United favourite has been out of work since being sacked by Middlesbrough in the summer. | Getty Images Photo: Getty Images

