Rangers are on the lookout for a new manager after deciding to part ways with Michael Beale on Sunday night.
Their 3-1 defeat to Aberdeen at Ibrox on Saturday eventually brought down the curtains on Beale’s ten-month reign as Rangers manager.
Former Chelsea boss Graham Potter is not interested in the Rangers job and Muscat has emerged as the favourites to take charge of the club.
The former Rangers full-back would be interested in having a conversation with the Glasgow giants.
He would be keen on returning to European football after tasting coaching success in Australia and Japan.
Muscat served under Ange Postecoglou at Melbourne Victory before taking the reins of the club after the latter was appointed Australia boss.
He guided them to the A-League premiership-championship double in 2015 and also later served as Postecoglou’s assistant in the Australia set-up.
Muscat again succeeded the current Tottenham boss as Yokohama F. Marinos manager in July 2021 and won the J1 League title in 2022.