Rangers have sacked Philippe Clement following the club's 2-0 defeat to St Mirren at Ibrox on Saturday.
The Gers were outplayed on home turf, with Mikael Mandron and Toyosi Olusanya netting in the second half to secure all three points for their side.
The result means Rangers are now a staggering 13 points behind Celtic after 27 matches, with their fierce rivals all but certain to win the Scottish Premiership once again.
Rangers confirmed Clement's departure with a statement that read: "Rangers Football Club can confirm it has tonight parted company with men's first-team manager, Philippe Clement.
Rangers next manager: Philippe Clement has been relieved of his duties at Ibrox
PA
"The club would like to put on record their sincere thanks to Philippe for his hard work and dedication during his spell in charge.
"A further update from the club will follow in due course."
Rangers are now set to start their hunt for a new manager.
GB News will now take a look at the four favourites to take over, with a familiar face the frontrunner...
Steven Gerrard
Rangers next manager: Steven Gerrard is the frontrunner to take over at Ibrox
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Steven Gerrard has struggled during recent years, having toiled at Aston Villa before a disastrous stint in charge of Saudi Pro League side Al-Ettifaq.
However, he won the Scottish Premiership title with Rangers in 2021.
As a result, Gerrard is the clear favourite to take the job - with the 44-year-old currently a free agent.
His reputation may have taken a blow in recent years but the chance to return to Rangers, and dethrone Celtic as champions once again, could hold some appeal.
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Russell Martin
Russell Martin earned plenty of plaudits during his time at Southampton, having guided them to Premier League promotion last season.
However, he was axed by the Saints in December following a disastrous season.
What bodes well for Martin and his own CV is, however, that Southampton have arguably got even worse in the time since his dismissal.
He would bring an exciting style of play to the club, something that was lacking during Clement's spell in the dugout.
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Kevin Muscat
Another name circling among the bookies is Kevin Musca.
The 51-year-old is currently working in the Chinese Super League with Shanghai Port, while he's also managed Yokohama F Marinos, Sint-Truiden and Melbourne Victory.
As a player, however, he spent one year at Rangers - with the Gers winning three trophies in the 2002/23 season.
Muscat would be a risky appointment but that still hasn't stopped him from being linked.
Gary O'Neil
Rangers next manager: Gary O'Neil is in contention to take over, with the former Wolves boss currently a free agent
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Gary O'Neil did well to keep Wolves in the Premier League last term, having arrived on the eve of the season.
However, results worsened this term - with the 41-year-old dismissed in December after a 2-1 defeat to Ipswich.
O'Neil, like Martin, is known for playing attacking football - no matter the circumstances.
Whether he'd be interested in taking over at Rangers is unclear, however.
