Murty was initially installed as interim boss in October following the sacking of Pedro Caixinha, before being handed the role until the end of the campaign in December.
However, the 43-year-old has paid the price for the heavy defeat to Celtic, which came just two weeks after a 4-0 hammering at the hands of their rivals in the Scottish FA Cup.
Following the loss to Celtic, who won the Scottish Premiership for a seventh consecutive year thanks to the win, reports emerged that Gerrard – who is in charge of Liverpool’s Under-19s side – is Rangers’ top target to take over for next season.
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