The current Derby manager is being lined up to replace Maurizio Sarri as Chelsea boos, according to the BBC, and that could happen over the coming weeks.
So the English Championship side are left needing to draw up contingency plans for when that does happen.
And apparently it’s Gerrard who they believe should be leading them next.
But the report from The Times says Gerrard has knocked Derby back and will stay as Rangers manager instead.
That should come as a big boost to the Ibrox club as they prepare for another tilt at the Scottish Premiership.
In Gerrard’s first season in Glasgow, Rangers finished second, nine points behind treble winners Celtic.
But he’s already set about strengthening his squad for the coming campaign and may yet add more between now and the first league game in August.