Both Sutton and Gerrard work as part of BT Sport's coverage for the Champions League and Premier League. "I'm busy for a couple of days now, but the plan is to pick them up on Thursday and we'll see if we can progress it". But, even if the 37-year-old, who is now the under-18 coach at Liverpool, accepts the job this week, he will not take charge until June.
The 43-year-old Murty, who had been coach of the club's development squad, was appointed in December until the end of the campaign following the dismissal of Pedro Caixinha.
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Rangers parted ways with Graeme Murty earlier today following Sunday's embarrassing 5-0 defeat to Old Firm rivals Celtic. He will take some time to consider his options, which include returning to his role at the Rangers Academy.
Former Rangers players Jimmy Nicholl and Jonatan Johansson have been placed in charge of the first team for the remaining three league games.
They say sources close to Gerrard have told them that he is viewing a potential stint at Rangers as the flawless stepping stone to one day succeeding Jurgen Klopp at Liverpool.
Lampard feels that the time is right for Gerrard to quit Anfield and test himself north of the border, however, telling talkSPORT: "In terms of the size of the club and knowing Steven pretty well, I think it's a great opportunity for him".