FC Twente insisted Steve McClaren is not certain to return to the club as the successor to sacked head coach Co Adriaanse.
Adriaanse, who took charge of the club last summer, leaves with Twente third in the Eredivisie but having lost their last three matches of 2011, in the Europa League, Eredivisie and KNVB Beker.
Former England boss McClaren, who won the Eredivisie title with Twente in 2010, has been linked with a return to the club as Adriaanse's successor but chairman Joop Munsterman confirmed the club are considering three names.
Former Feyenoord, Hungary and FC Utrecht coach Erwin Koeman is also in their thoughts, but current PSV Eindhoven coach Fred Rutten is not among the contenders.
"His (McClaren's) appointment is still uncertain, as we will hold discussions in the next few days,'' Munsterman told a press conference, in comments reported by Voetbal International.
"We have a list of three candidates, two of whom are Dutch. On the list of applicants is also an alternative for Steve McClaren: Erwin Koeman. Fred Rutten is not on the list.''
It is understood that McClaren is looking to get back into management and would see a return to Holland as an attractive option. The 50-year-old led Twente to their first ever Eredivisie title in his second season before leaving to take charge of Bundesliga side Wolfsburg in May 2010.
He was sacked less than a year later and his most recent post was at Nottingham Forest, who appointed him as manager last June on a three-year deal. However, McClaren resigned from his post in October with Forest just one point and one place above the Championship relegation zone.
Adriaanse's assistants Alfred Schreuder, Boudewijn Pahlplatz and Youri Mulder will take charge of Twente while a successor is sought and Munsterman added: "We have such good assistant coaches that they will be fine to prepare the team for the next league game against RKC Waalwijk.''
The hugely experienced Adriaanse took the reins on a one-year deal last June following the resignation of Michel Preud'homme, who led Twente to a runners-up spot behind Ajax in the 2010/11 Eredivisie season and lifted the KNVB Beker.
Prior to taking over at Twente, Adriaanse managed clubs in Portugal, Ukraine, Austria, Qatar and Holland, although he had not managed in his homeland since leaving AZ Alkmaar in 2005.
Munsterman said: "The year begins as it ended, in a minor key for FC Twente. It's a big disappointment, especially because everyone at the beginning of the season had a different expectation of our partnership with Co Adriaanse.
"In the technical area, for whatever reason, the desired synergy and chemistry between the two parties did not occur. We apologise that this has led to the current undesirable situation.
"This morning we had a very respectful conversation with a coach who is intelligent, disciplined, restrained and respectful, and in that discussion Co continually thought of the interests of FC Twente. Therefore we are very grateful to him and it demonstrates the loyalty of this coach.''