The German could be made caretaker boss or simply a member of staff to boost the Scottish Championship side's promotion bid in the short term, with the 61-year-old himself refusing to rule out any possibilities.
But, for a club like Rangers - already suffering from grave instability off the field - Magath is the last person in the world that need be looked at.
Well, the list is a long one...
The early signs came when former Bayern Munich chairman Uli Hoeness warned Fulham's players they will hate him if he took over at Craven Cottage. He duly did and the Cottagers were duly relegated, struggling desperately for form the following season, too.
"Felix wants total power. He is also a very suspicious guy. He sees ghosts and is convinced everyone is always talking about him," Hoeness said.
"This is why, at every club, he wants to become manager, director, coach, and even print the match day programmes.
"This can lead to a short revival but in the long term it leads to disaster. Felix Magath has proved that at every club he has been."
Hoeness's words were ignored - treated as a former employer's opinion that would hopefully be proven wrong.
But what followed at Fulham was exactly as the ex-Bayern supremo predicted.
He got his tactics wrong, his line-ups wrong - and sold most of Fulham's most experienced and, arguably, best players.
When the inevitable day of his sacking came, supporters of the west London side were jubilant. It was reminiscent of Hoeness's saying that the players at Bayern 'had a party' when Magath was gone.
In his defence, there is perhaps a sense the German could kick Rangers into shape, with several aging players no longer giving their all for the Gers - something they would most certainly be forced to under Magath.
But Magath's 'all' is not a humanly possible 'all.' As another of Hoeness's aptly put quotes stated:
"He goes well beyond the limits of physical challenges with players. He is pushing players to a ridiculous stage. Well over the edge.
"For him it is natural to squeeze the body of a professional player like a lemon to the final drop. It goes well beyond the stage where it gets unhealthy for the body of a player."
The appeal of the 61-year-old as a short-term saviour for Rangers also falls rather flat when you consider the fact he was brought into Fulham to keep them in the Premier League. As a result of - admittedly not only but certainly hugely - his misdemeanours, they are now fighting to stay up in the Championship.
And then there was the whole 'cheese' business...
The evidence, then, is damning; the verdict: guilty. If Rangers have anything to do with Magath, it is surely bound to end in another unmitigated disaster.