STEVEN GERRARD and Frank Lampard went head-to-head and were side-by-side during their respective careers with Liverpool, Chelsea and England.

Now they are taking their first steps into dugout at the same time as they look to restore Rangers and Derby County to the levels they feel they should be operating at.

The challenge of overhauling Celtic and lifting the Premiership title at Ibrox is a significant one for Gerrard to undertake in his first managerial position.

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But Lampard also has lofty ambitions to meet as he attempts to bring Premier League football back to Pride Park for the first time since 2008.

Former Gers and Rams winger Ted McMinn will keep a close eye on the fortunes of both legends and both clubs as the former England stars move into unknown territory in the coming months.

And the 55-year-old is intrigued at the prospect of two heroes of their generation taking to the other side of the white line for the first time.

“They are two young managers that are starting off at huge clubs,” he told SportTimes.

“Gerrard going to Rangers, it is an unbelievable chance for him. It is the same for Frank.

“It is a gamble but young managers have got to start somewhere and Gerrard, and Lampard, are clearly ambitious and going to Rangers and Derby shows they want to get to the top.

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“It brings back memories of ’86 for me and when Souness came. I think it is quite similar.

“He came from Italy to Rangers as player-manager and it was his first job as a boss. He turned the whole club around and it could be the same for Gerrard coming from Liverpool.

“He took the job at the Academy and wants to go to the next step so good on him. He has gone to, for me, the biggest club in Scotland.

“When Souness came in, it was surreal. Jock Wallace was gone and then Souness was appointed and he brought Walter in.

“You were thinking ‘I am playing with someone of that experience and calibre’. I know Gerrard won’t be playing but he is a huge figure in football, someone that has played for his country, played at the highest level.

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“He is a name that will draw players, and I hope it is the same for Lampard at Derby. They will attract players and they will have great contacts in the game.

“Both clubs sell themselves, but the chance to work with Gerrard or Lampard will entice players because they will think ‘they have gone there for a reason and that is because they want to win things’.”

Gerrard arrives at Ibrox with plenty of room for improvement after Rangers once again finished well off the pace in the Premiership last term and were powerless to prevent Celtic securing a second consecutive clean sweep of silverware.

South of the border, his former midfield rival and partner has inherited a squad that suffered their own heartache at the end of the campaign.

Derby were beaten by Fulham in the play-off semi-finals and then lost boss Gary Rowett to Stoke as they prepare for another crack at promotion from the Championship.

Both Gerrard and Lampard have forged careers in front of the television cameras since bringing an end to their illustrious playing stints.

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And McMinn is pleased to see them put their money where their mouths are and move into management ahead of the new campaign.

He said: “They are ambitious and they want the same success as managers as they had as players and hopefully that is the case.

“You could sit in the television studio or be on the radio and talk the talk, and be paid huge amounts of money, but they feel that their job is on the training ground and at the side of the park on a Saturday.

“They want to help players, they want to win things and they want to be involved every day in football. For me, some pundits make you want to turn the TV off because they just talk rubbish and don’t offer anything.

“They are biased and just say things to get a reaction so you think ‘well, go and be a manager and try it and see how successful they can be’.

“Some people feel more comfortable talking behind a microphone. Having seen that side of it, Gerrard and Lampard now want to prove themselves as managers.

"You have to give them credit for that and I hope they both do well.”

The appointment of Gerrard captured the imagination of the Ibrox crowd as Rangers fans were given a much-needed boost after another lamentable campaign.

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McMinn has also seen the Rams support immediately buy into the idea of Lampard as boss as the 39-year-old kicks-off his coaching career.

And the forward, who also played for the likes of Sevilla, Birmingham and Burnley, hopes both sets of punters will have plenty to cheer this term.

McMinn said: “The fans will give Lampard time because of who he is and he was impressive in his interview the other day. The fans will get behind him and Jody Morris, who has come in from Chelsea.

“I hope he brings in an experienced first team coach as well. Gerrard bringing in Gary McAllister is a great appointment.

“He knows Scottish football, he has had a great career and Steven must trust him.

“What will the fans accept this year? Will they accept second place? Probably not. It depends on the performances and it is important for Steven to come in and make a good impression early on.”