Former Brighton manager Oscar Garcia and former Leeds manager Simon Grayson are two candidates being considered to fill the vacant Elland Road post following the sacking of Dave Hockaday, according to Sky sources.
This follows reports that Hockaday has agreed a £10,000 compensation package with the Elland Road club.
Former Forest Green boss Hockaday, who was the surprise choice to replace Brian McDermott back in June, was relieved of his duties after just six games in charge, a spell which saw him win two and lose three Sky Bet Championship games.
Garcia, who guided Brighton to the Championship play-offs before losing to Derby in the semi-finals last season, is available after he left his position at Maccabi Tel Aviv in June.
Current Preston manager Grayson, who secured Leeds' promotion to the Championship during a four-year spell in charge at Elland Road before leaving in 2012, has also been listed among the candidates the replace Hockaday but he quickly dismissed talk of a return to his former club, branding them as "wide off the mark".
Speaking at a press conference on Monday morning, Grayson said: "Everybody knows about my affiliation with Leeds and I enjoyed my time there, but I am happy at Preston.
"Preston can't do enough for me at this moment in time. They give me the opportunity to do what we are doing; we have got a good squad together and I have a real desire to get this team to the next level.
"People can speculate about anything they want and bookmakers can do their jobs, but I am enjoying my time at Preston.
"The reports are wide of the mark; people are going to speculate and put two and two together, but the club have had no approach, I've had no approach and that's the end of the matter."