By Wayne Veysey

26th Feb, 2017 | 2:57pm

Odds slashed: 39-year-old installed new favourite to become Rangers manager

By Alex Stevens

Barry Ferguson has been installed as the new favourite to become the next Rangers manager following a dramatic tumble in his odds.

The club legend has leapfrogged the likes of Alex McLeish, Billy Davies and Martin Jol in the betting to replace Mark Warburton, who left in acrimonious circumstances 12 days ago.

Bookmakers Ladbrokes price Ferguson as the 5/2 favourite to take over at Ibrox after his odds were slashed over the last 24 hours.

Ex-Rangers manager McLeish is second favourite at 3/1, ahead of former Tottenham and Fulham boss Jol (6/1), ex-Nottingham Forest and Derby manager Davies (8/1) and Aberdeen incumbent Derek McInnes (10/1).

Reports have emerged in Scotland that former Rangers midfielder Ferguson, 39, has quit as manager of Scottish minnows Clyde.

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The Ibrox legend is said to have resigned after a dismal run of results left the club eighth in League Two, which is the fourth tier of Scottish football.

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.

Former Reading defender Murty has overseen three matches from the dugout, Scottish Premiership defeats to Dundee and Inverness, and a 2-1 Scottish Cup triumph over second-tier outfit Greenock Morton.

Murty was at the helm on Friday night when Rangers suffered an embarrassing 2-1 loss to relegation strugglers 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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