Barry Ferguson believes it will be "an easy decision" for Rangers boss Michael Beale to offer Steven Davis a new contract with the club.
The Northern Ireland captain was told last week that his season was over after he picked up a knee injury in training.
With Davis' current contract with the Gers finishing at the end of the season many fear it will bring the midfielder's career to an end.
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But former Rangers skipper Ferguson says it would be "a no-brainer" to give Davis another contract if the medical staff back the 38-year-old to come back stronger after the injury.
Writing in his column in the Daily Record Ferguson said: "The news that his season is over has come as a hammer blow at the worst possible moment both for Davo and for new Rangers boss Michael Beale.
"And, given that the details of his knee injury are still very sketchy, the biggest worry of all is that he may have kicked his last ball as a professional football player. Obviously, I’m keeping my fingers crossed that’s not the case and I’m absolutely certain Beale will be feeling the same way because Davo still has so much to offer Rangers both on and off the pitch.
"And, for that reason, I’m sure the medical department will be desperate to get to the bottom of this issue because, one way or another, a big decision is going to have to be made.
"Let’s be honest, if he has torn or ruptured a ligament then, at his age, it’s a long way back. He must be feeling sick to his stomach right now because he’s never really had to deal with a long term injury for as long as I can remember.
"The question is, what do Rangers do about it now that his contract is coming to an end?
"And, for me, it’s a no brainer. If the doctors believe he’s going to come back and be ready to go again at some point next season then I’d be offering him a new deal right now.
"Listen, I know a lot of Rangers fans are looking for young blood to come in and for the whole squad to be overhauled. I don’t disagree with them. It’s badly needed.
"But players like Steven Davis don’t come around that often and if he’s going to make a full recovery then the club should do whatever it takes to keep him around. He’s not going to play every game at this stage in his career. But I do honestly believe there’s a big part for him still to play as Beale moves forward.
"Put it this way, in the new man’s first game in charge against Hibs it was Davis who came off the bench to settle things down and restore a bit of calmness to the middle of the park. So much so, in fact, that I’m convinced he would have started at Pittodrie a few days later if he hadn’t picked up this injury in training.
"So Beale will be cursing his luck that a player of that quality is now unavailable at such a critical point in the season. But, looking forward, it’s an easy decision for the manager to give him a new contract so long as the damage done is not career ending."
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