Avram Grant may have been sacked by West Ham but co-owner David Gold states the club will take its time in appointing the right manager. Former England coach Steve McClaren leads the betting to take over at Upton Park, while Chris Hughton, Neil Warnock, Gus Poyet and Sam Allardyce are also in the frame.
First-team coach Kevin Keen has been placed in temporary charge and will oversee preparations for the final game of the season against Sunderland.
"The sooner the better because we have a lot of work to do - an enormous amount of work - but we mustn't be rushed," Gold told Sky Sports News.
"This will be a very, very important appointment.
"We're choosing a manager good enough to get us out of this division and capable of continuing once we've achieved that.
"Now relegation is known this is one of the reasons we moved quickly. It's important we have time for the CVs to come into us.
"I'm sure many, many managers will see the job as challenging and exciting and it's important we pick the right person.
"We're also prepared for the most exciting venture in the history of the club in the sense that we'll be moving to a new stadium, which is something we've never done.
"All these challenges have got to be addressed, so it's important we pick the right person."
Gold was critical of Grant, giving credence to the belief the Israeli struggled to inspire his players.
"Everything seemed okay to me when I visited the training ground, but my visits are quite short otherwise I get accused of interfering and that's the last thing I'd want to be accused of," he said.
"I'd be in the dressing room before a match and the training ground for half a day and what I saw was professionalism - but that's only what I saw."