Aston Villa confirmed the appointment of Gerrard as their new head coach on Thursday morning sparking a flurry of activity that saw one bookmaker temporarily suspend betting on former Rangers midfielder van Bronkhorst returning to the club as manager.
The 106-time capped Netherlands international spent two-and-a-half seasons with the Ibrox side before spells at Arsenal and Barcelona.
Since retiring 11 years ago, Van Bronckhorst has managed Feyenoord to an Eredivisie title in 2017, and was most recently in charge of Chinese Super League club Guangzhou R&F before leaving at the end of 2020 to return to his family during the Covid-19 pandemic.
Behind him in the betting are former England duo Frank Lampared and John Terry.
Derek McInness, Alex Neil, Slaven Bilic and Dean Smith - who Gerrard has replaced at Villa Park - are also on the list.
Gerrard posted an emotional message to Rangers fans on Instagram following his departure.
He wrote: “I want to say a heartfelt thank you to everyone associated with Glasgow Rangers, especially the fans, for the love and support you’ve akk shown me during my time in Scotland.
"Winning ‘55’ will always hold a special place in my heart – each and every one of you played a part in that and, believe me, there will be many more to come.
"I hope in time you can understand and accept my decision to move on but I honestly fell in love with the club and will always follow the team.
"Once a Ranger, always a Ranger #55”.