Alan Curbishley is being linked with a return to Charlton Athletic.
The People says Curbishley will be re-installed as manager if the club is sold to a consortium headed by former chief executive Peter Varney.
And the new owners will wait as long as possible to get Curbishley, who is fighting a legal compensation battle with West Ham - a case he will lose if he takes up new employment.
He is suing the Hammers for an estimated £3million after walking out of the club last September, blaming "breach of trust and confidence".