The Ibrox club’s weekly press conference, usually scheduled to take place at the Auchenhowie training complex, has been cancelled and Rangers will now host media at the stadium at 3pm, where it is understood the former Liverpool captain will be unveiled on a three-year contract.

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However, the 37-year-old is not expected to take charge of Rangers until the summer, with Jimmy Nicholl and Jonatan Johansson leading the team in their remaining three matches.

Steven Gerrard is set to be unveiled as the new manager of Rangers today. Picture: PA

Gerrard, currently the Liverpool Under-18 coach, will begin his new role in June, and is expected to take former Anfield team mate and ex-Scotland skipper Gary McAllister as his assistant.

Positive talks took place between Gerrard and his representatives and the Ibrox hierarchy on Thursday, with the former Red agreeing a deal in principle.

Now the former England skipper is set to take the reins at Ibrox in his first managerial role, having knocked back MK Dons two years ago.

Rangers to unveil Steven Gerrard as new manager today