Former Rangers captain Barry Ferguson says he is not ready to take up a managerial role at the club.
The 39-year-old was installed among the favourites to succeed Mark Warburton at Ibrox after resigning as boss of League Two Clyde on Sunday.
But he insists he has had no contact with Rangers, who hope to recruit Ross Wilson as director of football.
"I've still got loads to learn. I don't think I am ready to manage at that level," Ferguson told BBC Sportsound.
"I'm not stupid enough to say I'm ready. I still think I have got a lot to learn. The last two-and-a-half years have been great for me.
"But I have not had any contact from Rangers. I don't know where these stories have come from."
Despite his lack of senior managerial experience, Ferguson admitted he would "run back" to a club he helped to 15 domestic trophies as a player, including five league titles.
"It was a club I was at from eight years old," he noted. "I left for a couple of years to go down to Blackburn but I came back. It was a dream of mine to play for Rangers and then to captain them and win things.
"When I look just now, it isn't going great for them but I am sure in time they will come back. Let's be honest, Celtic are miles in front just now and Aberdeen are doing a lot better under Derek McInnes. But Rangers is a club still close to my heart."
While under-20s coach Graeme Murty remains in caretaker charge following Warburton's departure on 10 February, Ferguson believes other favourites for the role would not want the job on a temporary basis.
And he gave his backing to Aberdeen boss McInnes, who played alongside Ferguson at Rangers, as a "perfect" permanent appointment.
"I don't think an Alex McLeish or a Billy Davies would come in and take it short term," he added. "I think they would want a guarantee that it would be a bit longer.
"I think it's important they just take their time and get the right guy.
"The guy for me [would be] Derek McInnes. But they are not going to get Derek probably until the end of the season.
"He's the perfect guy for the job. He's done an unbelievable job up at Aberdeen and he suits Rangers down to a tee.
"He knows the club. He's a good manager. Him and 'Doc' [Dons assistant boss Tony Docherty] have done a great job up there."
Meanwhile, Ferguson says his decision to resign from his job with part-time Clyde has not put him off management.
"They didn't want me to resign, they asked me not to but I was pretty adamant," he added. "The chairman asked me to have a long, hard think about it, which I did. But I woke up on Sunday morning and my mind was still clear it was the right decision.
"The players were giving me everything. But I know it's a results business. We dropped from second top to sixth or seventh [Clyde are eighth after Saturday's defeat by Annan, with two games in hand]] and I had a lot of good players. We were a decent team when we were on it, but we were under-performing and that falls on my shoulders. I take the blame for that.
"But it has not put me off. I will take in some games and go to different clubs and watch different managers do things. I will go away and start learning again."