STEVEN GERRARD has been made the clear front-runner to take over as Newcastle manager with the Rangers boss favourite at THREE bookies.

Gerrard has been touted as a potential target for the Toon after the multi-million pound Saudi takeover last night.

The Public Investment Fund (PIF) spent £305m to buy the club from long-term owner Mike Ashley.

READ MORE: Rangers boss Steven Gerrard's ambition could tempt Newcastle move

And reports have already suggested current boss Steve Bruce could be out of a job as a result of the restructured hierarchy's vision for the future.

Amanda Staveley, a financier, is now a part owner and will have a seat in the boardroom which has prompted bookies to lower odds on Gerrard.

Staveley was yesterday branded as a "big Liverpool fan" by Alan Brazil, and it appears punters have noted the link and bet on Gerrard heading south.

The Rangers boss, 41, has been installed as favourite at William Hill, Bet Victor and Coral.

He's priced at 3/1 with William Hill, and is 4/1 at both Bet Victor and Coral.

He's also among the favourites elsewhere at 9/2 and 7/2 at Paddy Power and SkyBet.

Antonio Conte and Eddie Howe are both down as favourites at different bookies with ex-Celtic boss Brendan Rodgers also priced 9/1 at Paddy Power.