Malky Mackay and Tim Sherwood have emerged as the front-runners to take over from Tony Pulis at Crystal Palace, sources have told ESPN FC.
Pulis left Palace on Thursday and the Eagles are now looking to swiftly appoint a successor with the club's 2014-15 Premier League season getting under way against Arsenal on Saturday.
Mackay is the bookmakers' favourite to land the role, with the presence of his close friend Iain Moody as the Palace sporting director ensuring links with the former Cardiff City manager are inevitable.
However, ESPN FC sources state Palace chairman Steve Parish is also considering Sherwood, who commented on the departure of Pulis in an article for The Independent this weekend.
"He did a brilliant job at Crystal Palace last season but modern management encompasses a lot more than just what happens on the pitch. I know that from my own experience," said Sherwood, who was dismissed as Tottenham manager at the end of last season.
"I have no knowledge of what happened, but if managers were only judged by what happened on the pitch I would like to think I would still be at Tottenham Hotspur.
"It will be interesting to see what details emerge about Tony and Palace's decision to part company. All I can say from the perspective of a manager is that he did a wonderful job. He has the admiration of the coaching fraternity."
Sherwood, who claimed he turned down the chance to take over as West Bromwich Albion manager earlier this summer, has been on a course to attain his UEFA Pro coaching license over recent weeks alongside former players Les Ferdinand, Sol Campbell, Patrick Vieira and Craig Bellamy.