Rangers manager Steven Gerrard among bookmakers favourites for Newcastle United job but Arsenal legend reckons he should stay put

Steven Gerrard was last night installed by several bookmakers as one of the favourites to become Newcastle United’s next manager.

The Daily Mail have reported that the Rangers boss is ‘intrigued’ by recent activity on Tyneside as new owners completed their takeover of the club.

Saudi group Public Investment Fund (PIF), chaired by multi-billionaire Mohammed Bin Salman, completed the £305million deal yesterday to buy out the 14-year tenure of Mike Ashley.

It now seems unlikely that current Toon manager Steve Bruce, who has been under pressure in recent months, will remain in the role as the restructured hierarchy set out their vision for the future.

Amanda Staveley, who fronted the consortium, revealed they have major aspirations for the club in the next decade.

She stated: “Do we want to win the Premier League within five or ten years? Yes. This takeover is hugely transformative.

“We want to win trophies. But trophies need investment, time, patience and team work.”

In an interview with Sky Sports, Staveley added: “We’re going to do a review right through the football operations, of the commercial side as well, and come back and make some decisions.”

Gerrard has been touted for a move south of the border and is viewed as a potential replacement, alongside former Celtic target Eddie Howe, Leicester City boss Brendan Rodgers and ex-Chelsea manager Antonio Conte.

William Hill, Bet Victor and Coral installed Gerrard as favourite to take over the reigns at St James Park.

During his time in Scotland, the former Liverpool captain has enjoyed success in his first managerial role, guiding Rangers to their first Scottish top-flight title victory in ten years as they completed the domestic campaign unbeaten.

Gerrard has also strengthened his European credentials, steering his side to memorable Europa League victories over the likes of Porto, Feyenoord, Braga, Galatasaray, Standard Liege and Lech Poznan in recent years.

However, Arsenal legend Ray Parlour admitted on talkSport he is not convinced the Ibrox boss is the best man to take on the Newcastle role, stating: “I still think he has a lot to prove up in Scotland, saying ‘can we win it again’.”