Russell Martin has emerged as the late front-runner as Rangers close in on the appointment of a new head coach.

The former Rangers and Scotland defender was reported to be finalising personal terms after accepting the position, which became vacant in February when Philippe Clement was sacked. The apparently imminent appointment is the latest in a series of major developments at Ibrox.

An American consortium led by Andrew Cavenagh and 49ers Enterprises secured a majority shareholding on Friday and new sporting director Kevin Thelwell officially began work on Monday.

Thelwell stated on his first day that the recruitment of a new head coach would come to a conclusion “in the coming days”.

Martin has been without a club since being sacked by Southampton in December after a 5-0 home defeat to Tottenham left Saints bottom of the Premier League on five points after 16 matches.

The 39-year-old had secured promotion in his first season in charge thanks to a Championship play-off final win against Leeds.

Martin now looks set to take his principles up against another purveyor of possession-based football and one of his predecessors as Swansea manager, Brendan Rodgers, whose Celtic side recently won their 13th title in 14 years.

Although Rangers have only won three major trophies since emerging from the Ibrox liquidation crisis of 2012, Martin will have a good grasp of the fans’ demands and expectations, which have been raised by the takeover and the promise of a £20million investment in the playing side.