The Scottish Premiership winning boss is the market leader to take the latest opening in the English Premier League, and odds-on favourite with many bookmakers, to replace Dean Smith who was dismissed on Sunday after five straight defeats.
Late on Monday night English-based reports suggested the Midlands side would make a move for the Ibrox manager within 48 hours however at close of play on Tuesday Ibrox media partners Go Radio reported that, despite ongoing rumours and shortening odds, Rangers had yet to be contacted.
Gerrard is believed to lead a managerial shortlist being drafted by Villa and chief executive Christian Purslow, who has a previous working relationship with the Rangers manager during his playing days at Liverpool when Purslow was managing director at Anfield.
Also linked with the job are Belgium manager, and former Motherwell midfielder, Roberto Martinez and Frank Lampard with Villa believed to be keen on an appointment before their next fixture, on November 20, against Brighton. Rangers also return to action that weekend following the international break with the Premier Sports Cup semi-final against Hibs.
Gerrard has a contract running to 2024 at Ibrox, having signed an extension to his original four-year deal in December 2019 before leading Rangers to last season’s Premiership crown 18 months later.
Speculation has rarely been far away though and summer links to Crystal Palace and Tottenham were followed by Newcastle last month with Villa now the latest to cast their eye to the southside of Glasgow.