STEVEN GERRARD is closing in on being named new Aston Villa boss.
The Liverpool legend is set to agree a deal to take over from sacked Dean Smith.
Villa owners Nassef Sawiris and Wes Edens are prepared to pay compensation in excess of £3million.
The former England captain has 2½ years left on his contract but Ibrox chiefs will not stand in his way if he wants out.
Gerrard, 41, was on Wednesday understood to be in London, where Sawiris has an office and had been given permission by Rangers to hold talks with Villa.
He could be in place by this weekend ahead of Villa’s next game at home to Brighton on November 20.
Smith, 50, struggled after selling Jack Grealish to Manchester City in a British record £100m deal and Villa are just two points clear of the relegation zone.
Gerrard is likely to bring his Rangers coach and ex-Reds team-mate Gary McAllister, 56, with him.
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The Scot was Gerard Houllier’s No 2 at Villa between 2010 and 2011 and speaks highly of the Midlands club.
Gers assistant coach Michael Beale, set-piece specialist Tom Culshaw and head of performance Jordan Milsom are also expected to follow.
Roberto Martinez and Graham Potter were also considered by Villa but Gerrard emerged as the leading candidate.
Egyptian Sawiris, 67, and 60-year-old American Edens are worth a combined £7.6BILLION — the fifth richest ownership in the Premier League — and have made it clear that their target is to see Villa in Europe.
Gerrard has a good relationship with Villa chief executive Christian Purslow from their time together at Liverpool.
He could make an emotional return to Anfield, where he made over 500 appearances, when Villa are the visitors on December 11.
Scottish champions Rangers are resigned to losing him and are already drawing up a list of replacement candidates.
Former Villa favourite Gabriel Agbonlahor believes that his old club are ‘perfect’ for Gerrard.
He told talkSPORT: “I’m hearing reports it’s close to being done as well.
“I think for Steven Gerrard it’s the perfect club, it gets him to the Premier League, managing in the Premier League.”
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