Sky sources understand Billy Davies is not in the running to take over from sacked Pedro Caixinha as Rangers manager.
Davies was understood to be interested in the vacancy, but sources report he is unlikely to be considered for an interview by the club.
Pedro Caixinha was sacked on Thursday after an unscheduled Rangers board meeting.
Davies has been out of work since being sacked by Nottingham Forest more than three-and-a-half years ago, but feels he is now ready to return to football management.
Rangers have dismissed manager Pedro Caixinha after seven months in charge at Ibrox
Rangers is a project that appeals to him, but we have been told he is also pursuing other opportunities in England and Europe.
Club sources also deny there has been an initial approach to speak to Davies.
Davies started his playing career at Ibrox before going on to manage Motherwell, Preston and Derby, as well as having two spells at Forest.
Rangers are fourth in the Scottish Premiership, eight points behind league leaders Celtic and five behind second-placed Aberdeen.