Steven Gerrard will not become the next Rangers manager, Sky Sports News understands.
The former Ibrox boss did hold talks over a return to the club, three-and-a-half years after leaving Glasgow.
It is understood that while initial conversations were positive, it soon became clear the timing was not right for all parties, meaning the ex-Liverpool captain will not be part of the final stages of the process.
Rangers are still considering various options, including Davide Ancelotti and Russell Martin, as they weigh up who should permanently replace Philippe Clement.
Former Real Madrid assistant Ancelotti has held talks with Rangers, as he looks to land his first job as a manager.
He had assisted his dad Carlo at Bayern Munich, Napoli, Everton and Real Madrid, however, he has not joined him at Brazil.
When asked about his son's future, Carlo told Sky Sports News: "Davide is thinking [about] what to do for the future.
"He's in talks with other clubs as he tries to be first coach, and he knows if he doesn't find the opportunity, he will be here with me."
Former Southampton, Swansea and MK Dons manager Martin has also been under consideration after talks.
He played for Rangers in 2018 and has been out of work since last December.
Others have also been linked to the job, including in-demand Danny Rohl, former Feyenoord manager Brian Priske, ex-Luton Town boss Rob Edwards and former Bournemouth and Wolves manager Gary O'Neil.
Gerrard did win the club's 55th top-flight title in 2021, while denying Celtic a 10th consecutive Premiership crown.
However, that was his only trophy from a possible nine before he left for Aston Villa.
His spell at the Premier League club lasted less than a year, and following that sacking, he joined Saudi Pro League side Al Ettifaq - before leaving there in January.
Any appointment will not need to wait for the official completion of the US takeover of Ibrox.
A US consortium controlled by health insurance tycoon Andrew Cavenagh, which includes the San Francisco 49ers investment arm, the 49ers Enterprises, is expected to acquire a 51 per cent stake in Rangers within the coming weeks.
Rangers will return to pre-season training on June 23 ahead of the new campaign.
They will then host Club Brugge, who finished second in the Belgian Pro League, on July 6.
The squad then depart for a training camp from July 7 at St George's Park.
Rangers then face their first Champions League qualifiers, with the first leg on July 22/23 and the return tie on July 29/30.
Middlesbrough - who finished 10th in the Sky Bet Championship - then visit Ibrox on July 26.
The Scottish Premiership campaign gets underway on August 2/3 - with fixtures for the new season out on June 20 - live on Sky Sports News.
From next season, Sky Sports' Premier League coverage will increase from 128 matches to at least 215 games exclusively live.
And 80 per cent of all televised Premier League games next season are on Sky Sports
