Gillespie, 47, has been heavily linked with the chief executive position at Ibrox since Patrick Stewart left in November.
As well as being an influential force at St Mirren, Gillespie is CEO of the children’s charity The Kibble.
A Rangers supporter, he was linked with the role when James Bisgrove left Rangers to move to Saudi Arabia just before the 2024-25 season. Gillespie spoke to then-chairman John Bennett about moving to Ibrox, but a switch did not materialise.
“Rangers are a massive institution, a great organisation, and ultimately you have those conversations,” he said at the time “But I’ve got an amazing job at Kibble.
“It’s rewarding in more than just financial terms to make a difference to the kids I work with on a daily basis, or the staff I lean on.
“That’s something special – and obviously I’m now firmly embedded in St Mirren. Whether it’s Rangers or other clubs, you’ve got to listen.”
It’s believed that Rangers chairman Cavenagh was always keen on getting somebody with experience of Scottish football but he also cast the net wider than just domestic contenders.
Cavenagh was asked recently why the club wasn’t pursuing a big name CEO from a major club, somebody with a bit of glamour attached.
Stewart had come to Rangers via Manchester United where he had an interim spell as chief executive spell during his 18-months at the club in various boardroom roles.
It’s understood that Cavenagh doesn’t believe that Rangers need a person with a high-profile, just somebody with a clear competency to execute the plan as devised by the consortium who own the club.
