Hull boss Peter Taylor has been given permission to speak to Charlton - and admitted he would seriously consider the job if he was offered it.
The 53-year-old is the clear favourite to succeed Alan Curbishley at The Valley after Hull chairman Adam Pearson granted Charlton permission to approach him.
Taylor, who has one year remaining on his contract at the KC Stadium, told PA Sport: 'Adam rang me this morning to say Charlton had been in touch and that he's given them permission to speak to me.
'There's a clause in my contract that if a club come in for me and I end up leaving, then that club have to pay Hull City a set amount of compensation.
'But I've not heard anything from anyone at Charlton yet so it could all be speculation and whether I`m even on their shortlist I don't know.
'And it would need to take a very good offer for me to leave Hull because we've achieved an awful lot here in the four years that I've been at the club and I`m very happy here.'
However, Taylor looks certain to be interviewed by Charlton this week after Addicks chief executive Peter Varney confirmed he will 'now start the process of talking to those who have made the shortlist'.
While Charlton are remaining tight-lipped about who figures on that shortlist, Taylor is the clear favourite with bookmakers.
The lure of a return to his native south-east, coupled with the opportunity to manage in the Premiership again, could make it impossible for him to turn the job down.
'I think if Charlton did approach me about an interview then, out of respect at the very least, I'd have to listen to what they had to say,' admitted Taylor.
'I`ve still got a house in Southend, my daughter still lives there, and it's been hard at times for my wife to be away from our friends and family.
'We go back on a regular basis at weekends and Adam Pearson has been brilliant in that respect.
'But, at the same time, we really enjoy living in Ferriby and, as things stand, I'm the Hull City manager for the foreseeable future.'
Taylor has managed in the Premiership before at Leicester but his tenure turned sour and he was sacked after just 13 months.
However, he has since restored his reputation in style and guided Hull to successive promotions before the current campaign saw him steer the club to Championship safety.
He has also enjoyed considerable success in his part-time job as England Under-21s boss.
But a move to Charlton would raise question marks over his role with the Football Association.
'Now Steve McClaren has come in he might want someone to do the Under-21s on a full-time basis because, as I've often said, it is a full-time job, whereas I enjoy the day-to-day involvement of club management,' Taylor added.