Billy Davies could be in line for a surprise return to Nottingham Forest following the departure of Alex McLeish.
Davies, sacked as Forest manager by former chairman Nigel Doughty in July 2011, is held in high regard by the current owners at the City Ground and could return for a second spell in charge of the team.
Forest chairman Fawaz Al Hasawi is understood to have considered the possibility of turning to Davies before appointing McLeish as Sean O'Driscoll's successor 40 days ago. The Kuwaiti owner desperately needs to restore faith with angry Forest fans as he searches for his fourth manager since buying the club in July last year.
Davies has been shortened to 4-1 second favourite in the list of potential replacements for McLeish, who left by mutual consent, citing a difference of opinion between himself and the owners, regarding club development.
McLeish is believed to have been promised funds of around £3 million to spend in the January transfer window, but failed with a £500,000 bid for Birmingham City's Chris Burke and was left embarrassed by George Boyd's humiliating transfer collapse on deadline day, because of a failed eye test.
Davies, who guided the club to the Championship play-offs in 2009-10 and 2010-11, believes he has unfinished business at the City Ground, although he is understood to be considering an offer to take over as the new Blackpool manager.
Nigel Adkins is also under consideration, but it is believed the former Southampton manager, sacked controversially two weeks ago, is reluctant to take the post because of the concerns raised by McLeish's departure.
John Pemberton and Rob Kelly have been placed in temporary charge of team affairs ahead of trip to face former manager O'Driscoll's Bristol City on Saturday.
Former Forest midfielder Roy Keane is also among the list of potential replacements. Keane was another considered by the Al Hasawi family before McLeish was appointed in December and an outsider is Goran Tufegdzic, the coach of the Kuwaiti national team.