ON the day that he was appointed as Rangers manager, Steven Gerrard was asked about when, or if, he would return to Liverpool and take a seat in the dugout.

In the subsequent three years, he has faced the question more times than he would have cared to have answered it and the theory about him eventually succeeding Jurgen Klopp has never gone away.

Gerrard was a man in demand throughout his playing career and his reputation as a coach has never been higher after his Premiership title win this term. If Rangers can lift the Scottish Cup, his name will be spoken about even more fondly.

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Ally McCoist has experienced that impact at first hand as big names south of the border keep an eye on Rangers' fortunes at home and abroad thanks to the Gerrard factor.

The Ibrox legend knows there will be Premier League chairmen and chief executives who won't have missed the job that Gerrard has done in re-establishing Rangers.

But that doesn't mean that Gerrard will look to head for the exit this summer. As he proved as a player, Gerrard isn't a man to take the first opportunity that comes along.

McCoist said: "Steven is now in a position where he has got a big decision to make.

"I don’t know what Steven wants but I wish him well in whatever he wants.

"I hope one day he does manage Liverpool, if that is what he wants. If he wants to manage England, I hope he gets that wish too. But I think only Steven can answer the question.

"Going to Crystal Palace or going to Newcastle, is that going to benefit his managerial career now or should he stay at Rangers?

READ MORE: Ally McCoist reveals impact of an empty Ibrox on Steven Gerrard's Premiership champions

"Only he can make that decision but whatever decision he makes, it is a gamble. It is all about making decisions and timing is everything, it really is.

"His stock at this moment in time is extremely high and I wish him well with whatever he wants. I would be surprised if he doesn’t stay at Rangers for the foreseeable future, but then I am not in Steven’s shoes.

"I just think he is intelligent. The vast majority of time, he thinks about everything he says, he knows what he wants and he has got good people around him.

"I can’t speak for him, but I don’t know if going to Crystal Palace and finishing 15th in the table will get you the Liverpool gig before staying at Rangers and maybe winning the title again or getting a run in the Champions League.

"I don’t know. But, going to Crystal Palace would be a gamble, I know that."

It is surely only a matter of time before a Premier League club comes calling but Gerrard has never given any hints that he would look to leave Rangers before his contract expires in 2024.

READ MORE: Ally McCoist details ramifications of Old Firm clash on Rangers' and Celtic's title aspirations next term

His impact at Ibrox has been transformative. He will forever be remembered as the man that delivered 55 and the coming seasons offer him a chance to add to his legendary status.

McCoist said: "Well, he is a superstar isn’t he? Let’s be honest about it, he is a superstar.

"The profile that he has given Rangers and Scottish football down south, and throughout the world to be honest with you, is massive, absolutely massive.

"It doesn’t matter if it is Alan Shearer, Michael Owen, Stevie McManaman, you see the boys down there and it is the first thing that they talk about.

Glasgow Times: Rangers manager Steven Gerrard

"They are interested to talk about it, interested to talk about the teams, the managers, the players and that is the kind of profile that someone like Steven Gerrard gives you. I don’t think there is any getting away from it.

"We are talking about one of the top English midfielders of his generation and he has got a global profile. He has, there is no getting away from it.

"In terms of the interest that is created by Steven being up here and competing and winning the title, the profile of Scottish football has certainly been increased throughout the UK, Europe and parts of the world because of Steven being here and that can only be a good thing."

The appointment of Gerrard was seen as a risk in May 2018 but next month he will collect his first medal as a manager and the silverware will be placed in the Ibrox Trophy Room after a decade-long absence.

Glasgow Times: Steven Gerrard celebrates through the window

Gerrard's detractors pointed to his lack of experience as a coach but he has answered the questions emphatically and he continues to lead by example on and off the park as Rangers strive for further success this season.

"Excellent," McCoist said. "No doubt about it, he just gets it.

"I was talking to a couple of the lads down south, a couple of his ex teammates, and we were talking about him.

"It’s difficult to explain but he just gets it. He knows what it is about, he knows what the job entails, he’s great with you guys, he is brilliant with the press, he handles it very, very well.

"Very seldom do you see him make mistakes. He made a mistake a Livingston, and we get that and we can cut him a bit of slack, because I think he is fantastic, I really do.

"I also have to say I think the board have been brilliant, they have given him a few quid to spend.

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"This is Steven’s third year, I do not think it is rocket science. He did not win anything in his first two years, give him a few quid to spend and boy, he has not let them down.

"He has returned it in volumes, he really has. Steven, his staff and of course the board, and I really mean that, deserve a lot of credit."

*Ally McCoist was speaking to promote coverage of Rangers v Celtic exclusively live on Premier Sports this weekend. Premier Sports is available on Sky, Virgin TV and the Premier Player. Prices start from £10.99 per month.