Former Manchester United teammates Paul Ince and Mark Robins are in the running for the Coventry City job.
The Mail on Sunday says Ince, who has been out of work for nearly 18 months since leaving Notts County, is on a three-name shortlist.
Robins, who saved Sir Alex Ferguson's job with an FA Cup winner for Manchester United against Nottingham Forest in 1990, impressed in his interview and has previous lower league managerial experience with Barnsley, whom he left last year.
The third candidate is believed to be ex-Hull boss Phil Brown.