The midfield talent reluctantly left Ibrox to join Mark Warburton at Griffin Park in January 2015.
Their current team has proved in the cup competitions this season, including against Old Firm rivals Celtic, that they can throw down with Scottish Premiership clubs.
However, Warburton and co will still be looking to bring in a new player or two this summer.
The Daily Mail reported that Macleod had cost Brentford just £850,000 when he joined the club in January 2015.
When he left the club he was quoted by the Daily Mail as stating:
“When you’re a Rangers fan, it’s hard to let go and I’ve never experienced anything else in football up to now.
“I definitely wasn’t eager to get out the door but when the opportunity came, with everything that was happening outside football at the club, I leant towards moving away.
“I’d love to go back to Rangers later in my career.
“I’d obviously like to be welcomed back at some point but I understand why some supporters might not appreciate my reasons for going.”
So it is clear that Macleod did not particularly want to leave his beloved Rangers and that he would love to return.
Now Rangers are in a stronger financial footing perhaps Macleod returning, at least on loan, could be a brilliant swoop.
Macleod has had a torrid time at Griffin Park since making his move. He has battled a niggling knee injury all season and has featured just once.
A return to Rangers this summer to work with Warburton, who brought him to Brentford, would give him a chance to put his injury problems behind him and get back to showing off his magnificent talent back at Ibrox.