Brian McDermott is the bookies odds-on favourite to make a return to Reading and replace Steve Clarke after the Scot was sacked last week.
Clarke, who opted to stay with the Royals having spoken to Championship Fulham about their vacant managerial role last month, was shown the door following a 1-0 defeat at home to Queens Park Rangers.
McDermott, who now works as a scout for Arsenal, spent over three years at the helm at Madejski Stadium from December 2009 until being sacked in March 2013.
During his spell in charge, McDermott won promotion from the Championship with the Royals in May 2012 but was dismissed during a season which ultimately ended in relegation.
McDermott is available at 1/2 with bookmakers Sky Bet with initial favourite Nigel Pearson next on the list at 7/2.
Current caretaker manager Martin Kuhl is not expected to remain long term, priced at 25/1 while former Royals bosses Phil Parkinson and Brendan Rodgers are both available at 14/1, alongside Arsenal legend Dennis Bergkamp.
Also in the running are ex-Charlton Athletic manager Guy Luzon, Birmingham City’s Gary Rowett, former Tottenham and Aston Villa boss Tim Sherwood and Spaniard Oscar Garcia.
Scottish trio Gary McAllister, Paul Dickov and Billy McKinlay are available as outside shots at 50/1 with Royals last boss Nigel Adkins priced at 40/1.
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