Manager Arsene Wenger will not be given a last chance to lift silverware with Arsenal after they were beaten 2-1 on aggregate by Atletico Madrid in the Europa League semi-final.
With the score 1-1 from the first leg, former Chelsea striker Diego Costa returned to the Atletico side to haunt the Gunners again and it was his composed chip on the brink of half-time which ended their European hopes.
Antoine Griezmann slipped the crucial pass through to Costa after coming close with a powerful strike from a tight angle.
Steven Gerrard has agreed a three-year deal in principle to become Rangers manager, according to Sky sources.
Sky Sports News understands Gerrard will arrive in Glasgow on Friday to officially sign his contract. Gary McAllister will be his assistant at Ibrox.
Gerrard shook hands on the deal with the Rangers hierarchy late on Thursday in London following his return from Rome - where he watched Liverpool reach the Champions League final.