Sunderland have made Martin O'Neill their first choice to replace the sacked Steve Bruce and hope to formalise his appointment as the new manager within the next 24 hours.
Although Ellis Short, Sunderland's chairman, and Niall Quinn, the club's international development director, were locked in productive and fast-moving talks with the former Aston Villa and Celtic manager on Thursday evening, they retained the precaution of keeping a plan B. Should negotiations with O'Neill hit an 11th-hour stumbling block, Short will turn to Mark Hughes.
Short has long been said to be an admirer of Hughes, who resigned his post at Fulham in June, but Quinn persuaded the Irish-American financier to regard O'Neill as his preferred choice, making initial contact with him after Bruce's sacking on Wednesday afternoon.
With Quinn, who as Sunderland's chairman tried to convince O'Neill to take charge on Wearside before Roy Keane's appointment five years ago, persuading Short that a man who has not worked since leaving Aston Villa on the eve of last season possessed the right credentials to spark a revival at the Stadium of Light, Hughes was left waiting by the phone at his home in Manchester.
The former Blackburn Rovers, Manchester City and Fulham manager had hoped to be invited for an interview but Sunderland instead opted to concentrate their endeavours on trying to finalise an agreement with O'Neill before Sunday's game at Wolverhampton Wanderers.
With Short demanding a quick decision from the 59-year-old boyhood Sunderland supporter, the door may open for Hughes were the O'Neill talks to stall. The Welshman remains very keen on succeeding Bruce. Hughes believes that, despite the prospect of initially working with extremely limited funds as Short tries to balance the books, he could build a long-term legacy at the 49,000-capacity Stadium of Light.
Whoever takes charge must first steer the team towards mid-table safety. Currently only two points above the relegation zone, Sunderland have collected 11 points from 13 Premier League games this season, winning twice.
Kevin Phillips, the former Sunderland striker and a cult hero, now playing for Blackpool, believes that O'Neill, quite apart from proving a broadly populist choice, would prompt a renaissance. "Martin O'Neill would be perfect for the club and I would love to see him take the job," Phillips said.
"He's got so much experience and he gets the absolute best out of his players. That's what they need now – some organisation and some belief back. He's been out of the game for a while and I hear he's a Sunderland fan, so I think it would be a great acquisition.
"Mark Hughes is the other name being strongly linked and I would be happy with him as well. Sunderland have better players than they have shown this season – no way should they be in a relegation battle."
Phillips was not surprised that Short dismissed Bruce in the wake of a 2-1 home defeat against Wigan Athletic last Saturday, at which the crowd called for their former manager's head. "I don't think there was a way back once the Sunderland fans turned on him," he said. "Even looking in from the outside, the atmosphere around the club seemed horrible and you can understand why the board felt it couldn't continue.
"I played for Sunderland for six years and the supporters are so passionate. You can understand why they were upset after the money the club spent in the summer. Unfortunately the performances on the pitch have not been good enough. You can't sack the players, so the manager gets the boot."
Neil Lennon, the Celtic manager, who played for O'Neill at Parkhead and Leicester City, is keeping his fingers crossed that his former mentor will soon be back in the dug-out, in north-east England.
"It would be brilliant to see Martin back in the game at Sunderland," Lennon said. "I think he wants to get back in now and he has a penchant for lifting clubs. Sunderland is a huge club and I know that, as a boy growing up, they were Martin's favourite team, so there might be an emotional tie for him there."
It would be nice to see him back in the game, but for me Hughes would be a much better option. O'Neill is a master of timing, rather than a great manager.