RANGERS are set to announce Steven Gerrard as their new manager.

Gerrard confirmed on Tuesday that he had held ‘positive’ talks with the Light Blues about succeeding Graeme Murty as manager.

Those discussions continued last night after the 37-year-old returned from Liverpool’s Champions League semi-final win over Roma.

An agreement has now been reached for the former England midfielder to put pen-to-paper on a three-year deal.

And he will be paraded as manager at Ibrox on Friday afternoon.

Gerrard will be joined by Gary McAllister as he takes his first steps into management following a spell in charge of the Reds’ Under-18 side.

Herald Sport revealed on Tuesday that Rangers were hopeful of concluding a deal for Gerrard by the end of the week and their pursuit of the Anfield icon is nearing completion.

Rangers have been searching for a new manager since Aberdeen gaffer Derek McInnes rejected the chance to return to his former club and replace Pedro Caixinha in December.

Murty was handed a deal until the end of the campaign but his tenure was cut short this week as he was relieved of his duties just hours after the Old Firm defeat to Celtic that saw Brendan Rodgers' side clinch a seventh successive league title.

The sacking of Murty cleared the way for Gerrard to be appointed and he will now go head-to-head with former Anfield boss Rodgers in the Premiership next term.

Gerrard had sought assurances from Rangers over what transfer funds he would be given to strengthen his squad this summer and he is poised to sign on the dotted line ahead of his official start at the end of the campaign.