Steven Gerrard has agreed a deal in principle to become Rangers manager, according to Sky sources.
Sky Sports News understands Gerrard shook hands on a three-year deal with the Rangers hierarchy late on Thursday in London following his return from Rome – where he watched Liverpool reach the Champions League final.
Gary McAllister will be his assistant at Ibrox. The former Liverpool pair take over from Graeme Murty, who was sacked earlier this week amid discussions with Gerrard.
Murty was set to manage Rangers until the end of the season but was dismissed on Monday in the wake of a 5-0 loss at Celtic.
Rangers are expected to confirm the appointment later on Friday with Gerrard preparing to travel to Glasgow.
He has been working as a Liverpool academy coach since April last year.
Rangers are currently third in the Scottish Premiership, 13 points behind Celtic, who clinched a seventh straight title when they defeated their Glasgow rivals at the weekend.