Mark Hughes and Marco Silva are being linked with the managerial position at Southampton after the club lost patience with Mauricio Pellegrino on Monday.
Hughes has been without a job since parting company with Stoke City earlier in the season while Silva left Watford in January.
Saints decided to sack Pellegrino after a run of one victory in their last 17 Premier League games, a sequence that has left them 17th in the table with only eight matches remaining. They are 100/1 to be relegated this term.
Southampton will look to make a swift appointment following the 46-year-old Argentinian's departure. After Sunday's FA Cup quarter-final at Wigan Athletic, Saints have two weeks before their next Premier League game, against West Ham on 31st March.
Pellegrino took over from Claude Puel in June after the club had finished eighth last season and reached the League Cup final.
His final game was Saturday's 3-0 defeat at Newcastle United, a result which means they have only scored 29 goals in their 30 league matches so far this season.
"The club will look to appoint a new management team as soon as possible," Southampton said in a statement on their website. "The search for a replacement [is] already underway."
Assistant manager Carlos Compagnucci and assistant first-team coach Xavier Tamarit have also left St Mary's.
Southampton are 10/11 to beat Wigan this weekend and 12121/1 to win the FA Cup.
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