By Wayne Veysey

6th Mar, 2017 | 2:52pm

Odds drift: Previous hot favourite to be Rangers manager now priced at 18/1

By Alex Stevens

Pedro Caixinha has been installed as the strong odds favourite to become the new Rangers manager following a fresh tumble in his odds.

The 46-year-old was not even priced by bookmakers this time a week ago but he had emerged as the favourite by the end of last week.

Caixinha’s odds have narrowed even further in the past 24 hours and he is now priced at 1/10 by bookmakers Sky Bet to replace Mark Warburton in the Ibrox hot seat.

The odds have drifted on the early hot favourite Alex McLeish, who is now priced at a distant 18/1 to take over at Rangers.

Ex-Birmingham manager Gary Rowett is the second favourite behind Caixinha, with his odds at 8/1 on Monday afternoon, ahead of current Rangers caretaker Graeme Murty (11/1) and Aberdeen boss Derek McInnes (12/1).

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Caixinha, who is currently the manager of Qatari outfit Al-Gharafa, has moved into the box seat as far as bookmakers are concerned amid reports he could be in the Ibrox dugout in time for Sunday lunchtime’s Old Firm derby against Celtic at Parkhead.

Ex-goalkeeper Caixinha, who retired from playing at the age of 23, has previously managed Portuguese side CD Beja and Greek giants Panathinaikos.

He also has wide experience as an assistant manager and came close to joining forces with Vitor Pereira at Celtic two years ago.

Rangers are intensifying their search for a new manager while also attempting to bring in a director of football as part of a major management restructure.

The club have suffered a setback in that regard in the last few days as No1 target Ross Wilson, the Southampton recruitment chief, has reportedly resisted their overtures to remain at the Premier League club.

Former Reading defender Murty has overseen the last five matches from the dugout, wins against St Johnstone in the Scottish Premiership and Hamilton and Greenock Morton in the Scottish Cup, as well as league defeats to Dundee and Inverness.

In other Rangers news, this is the huge sum lost by Mark Warburton after his behind-the-scenes manoeuvrings horribly backfired.

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