Blackburn Rovers are desperate for Tim Sherwood to agree to replace Steve Kean.
The process of finding his managerial successor is well under way with Tottenham coach Sherwood at the top of Rovers' hit-list.
An Ewood source told The Sun: "Tim's very ambitious and he wants a manager's job. He also has Blackburn close to his heart. He'd bring the fans back too and that's crucial."
Some staff fear they are facing financial ruin with crowds falling by a staggering 40 per cent this season.
The source added: "It's a very serious situation.
"The match-day revenue is not even enough to pay the players bought this summer."