Former Australia coach Frank Farina is an early favourite for the Melbourne Victory job.

Victory are understood to have held several rounds of talks with Farina, who is anxious to jump back into management.

The Aussie legend's last job was with Brisbane Roar and he feels he has unfinished business in the A-League. Some Melbourne sources have reported Farina being in the city this week.

Victory management are seeking a new coach following today's dismissal of Mehmet Durakovic.

Kevin Muscat will be in charge for this weekend's game against Newcastle Jets. New football adviser Ron Smith will sit on the bench with the Victory icon.

Smith, who has worked with Liverpool and as technical chief of the Malaysian FA, is expected to take on a full-time role with Victory in the near future.