Reading have held talks with former Atletico Madrid winger Milinko Pantic about taking over as manager.
The 49-year-old Serb was in London last week speaking to officials at the Championship club about replacing Brian McDermott, who was sacked on Friday.
Pantic, whose last managerial job was at Azerbaijani club FC Baku between 2013 and 2014, was part of Spanish side Atletico's double-winning team in 1996.
Ex-Netherlands defender Jaap Stam is also a reported contender for the job.
The former Manchester United player, 43, recently left his role as a assistant head coach of Ajax's reserve team.
McDermott, 55, left the Royals after just over five months in charge, having won only nine of his 30 games and finished 17th in the table.