Reading boss Ruben Selles is among the early front runners to replace Mark Robins at Coventry City.
The Sky Blues have controversially sacked the former Royal loanee after six years in charge, where he took the club from the fourth tier to the brink of the Premier League.
Last year, the 1987 FA Cup winners lost on penalties to Manchester United in the semi-final after staging a remarkable comeback from three goals down.
Sat in the bottom half of the Championship, the Midlands club have opted to part company.
Selles, who was fancied by Championship rivals Cardiff City, is among the early favourites.
At 7/1 on SkyBet, the Spaniard only trails Frank Lampard (2/1) and current England interim chief Lee Carsley (5/1).
Carsley made over 50 appearances for the club between 2000 and 2002 and will depart the England role this month as Thomas Tuchel takes over.
According to the Guardian, Wycombe Wanderers boss Matt Bloomfield has already been inquired about, with the Chairboys sat top of League One having won five matches in a row.
A Coventry City club statement said: "The Club will take its time to appoint a successor to Mark, although the position will be that of Head Coach working within the new structure set up by the Club over the last two years."
Oddscheckers' Leon Blackman said: "With Mark Robins’ departure on Thursday morning, the odds have been released for Coventry’s next manager, and while Frank Lampard and Lee Carsley currently lead the odds, Ruben Selles’ position at 10/1 is one that Reading fans should keep a close eye on. Typically, it takes about a day for these markets to mature into their true prices, so there’s potential for Selles’ odds to fluctuate significantly as the situation unfolds."
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