Rangers FC have already secured second place in the Scottish Premiership this season and Gerrard is already making plans for the summer transfer windows.
At the end of the season, the Gers are set to lose a number of players who will be heading back after their loan spells and it looks like the manager wants to replenish the squad with permanent signings.
One such area is the attacking department where Rangers currently have three men – Kyle Lafferty, Jermain Defoe and Alfredo Morelos.
But given the little game time that Lafferty has seen this season, it is more or less certain that he will be leaving the club during the summer.
There is also a huge possibility that Alfredo Morelos might also head for greener pastures given his fine goalscoring run this season.
This means, Gerrard might just have to bring in a new centre-forward and if some rumours are to be believed then the manager is eyeing a move for Watford man Andre Gray.
Andre Gray has been in decent form for Watford this season scoring nine goals up until now and the Hornets are expecting a number of clubs to show interest in the 27-year-old during the summer.
Rangers might just be amongst those clubs but they surely will not get anywhere close to signing Andre Gray.
The first and the most obvious reason is that Andre Gray is currently valued around £16 million which is without a doubt an insane amount of money for the Ibrox outfit.
The only way Gerrard can sanction such a huge transfer is if the club can manage to sell Alfredo Morelos for a huge sum of money during the summer.
The second big obstacle in signing Andre Gray is that currently, he gets around £70,000 per week in the form of wages at Watford and there is no way that the Gers afford to pay such a heavy salary throughout the course of the season.
The latest reports are claiming that Rangers want Andre Gray on a loan spell given that he has not been a regular starter for Watford this season.
This arrangement is certainly possible since the Hornets would be expected to pay a big chunk of Andre Gray’s salary meaning the Gers can then handle the rest of the burden.