Glasgow, October 7, 2025 – Steven Gerrard, the Liverpool icon whose managerial path has swung from Scottish glory to Saudi exile, is on the verge of a remarkable comeback. Days after Russell Martin’s shock dismissal plunged Rangers into chaos, reliable sources confirm the club has tabled a “life-changing” offer for Gerrard to return to Ibrox. Negotiations are progressing, with the proposal – a three-year deal worth around £4.5 million per year plus bonuses and club equity – described as one he “can’t afford to refuse.” At 45, the former England captain, sacked by Al-Ettifaq in January following a disappointing 12th-place finish, sees this as his chance for redemption in the league that made his managerial name.
Rangers’ upheaval came suddenly. Martin, the ex-Southampton boss appointed last summer after Philippe Clement’s exit, lasted just 17 games before a 3-0 humiliation by Falkirk sealed his fate. With one win in nine and the club 11 points behind Celtic, furious fans surrounded the team bus, chanting Gerrard’s name. By Monday, Martin was gone, and owner Dave Checketts moved swiftly to reopen the Gerrard chapter. “He’s the only one who can unite us,” one Ibrox insider told Sky Sports. “This isn’t a gamble – it’s destiny.”
Gerrard’s first stint at Rangers is the stuff of legend. Taking charge in May 2018 after a glittering playing career of 710 Liverpool appearances and a Champions League miracle in 2005, he rebuilt a fractured side into domestic and European contenders. The 2020–21 season brought 102 points, Rangers’ first title in a decade, and an unbeaten league record that convinced Aston Villa to pay £4 million for his services. “Rangers was where I proved myself,” Gerrard wrote in his 2023 autobiography. “Leaving broke my heart.” With the club now mired in turmoil after a costly summer and poor signings like Brazilian winger Matheus Cunha, his return feels almost poetic.
Insiders say the offer’s appeal extends beyond money. Gerrard, who reportedly gave up £10 million in Saudi compensation to leave Al-Ettifaq on good terms, has been in “positive discussions” since Sunday. The deal promises full control over transfers – a sticking point during his Saudi tenure – and involvement in revamping Rangers’ youth setup, a nod to his Liverpool roots. “It’s not just about salary, it’s about belonging,” a confidant told The Athletic. “He misses the roar and the pressure. Saudi was money; this is meaning.” Ally McCoist echoed the sentiment on talkSPORT: “He’s the godfather. Gerrard’s got unfinished business here.”
Still, the risks are real. His career post-Rangers has been uneven. A difficult spell at Aston Villa ended in October 2022 with the club 17th, and though he initially thrived at Al-Ettifaq – finishing sixth in 2023–24 – the following season collapsed amid dressing-room strife and fan apathy. “Sometimes the pieces just don’t fit,” Gerrard said in his farewell statement. Since then, he’s enjoyed family life in Merseyside, coaching his son’s youth team and doing punditry for TNT Sports, but the managerial itch has returned. “It’s in my DNA,” he told The Peter Crouch Podcast in September. “Give me the right project and I’ll jump.”
Rangers’ urgency heightens the drama. Celtic, under Brendan Rodgers’ third tenure, have stormed to ten straight wins, led by £50 million Korean sensation Ji-soo Park. The Gers, plagued by defensive lapses and a stagnant midfield, mirror some of Gerrard’s past challenges – but his methods once fixed worse. “The fans need Stevie,” said talkSPORT pundit David Tanner. “He’s the obvious choice.” Online, #StevieGBacksome trended with over 50,000 posts, while memes reframed his infamous 2014 “slip” as symbolic of redemption. Yet skeptics warn that his 42% win rate at Villa and Scotland’s unforgiving spotlight could test even a legend.
For Gerrard, this decision could reshape his legacy. A successful Rangers return could re-ignite talk of a future at Liverpool or another Premier League side; refusal could brand him a “one-hit wonder.” As talks accelerate – with a medical and signing expected by week’s end – Ibrox waits in suspense. “He can’t say no,” one insider insisted. “This is home calling.” In football’s theatre of redemption, Gerrard’s next move feels less like business and more like destiny.