[h=1]Nigel Pearson in frame for shock return to Leicester City[/h]
Nigel Pearson has today emerged as a possible contender for the Leicester City manager's job and could make a sensational return to the King Power Stadium.
The Mercury understands that Pearson, now at Hull, is one of the names in the frame along with Billy Davies, Lee Clark and Dave Jones.
But it now seems increasingly unlikely that Martin O'Neill will make an emotional return to the club which he guided so successfully more than a decade ago.
O'Neill has not spoken about the Leicester interest, but appears to have made it clear through sources that he does not want to return to the club.
He prefers to wait for a Premier League opportunity, possibly the Tottenham job if Harry Redknapp was to end up replacing Fabio Capello as England manager.
But one of O'Neill's former players, Neil Lennon – currently manager at Celtic – is another name to have emerged over the last 24 hours.
There will be disappointment among the supporters that O'Neill is resisting a second spell at City.
However, a return for Pearson would be warmly received by the Blue Army and viewed as a major coup by the club's Thai owners.
But it is something which would have been inconceivable when the 48-year-old left the club for Hull back in the summer of 2010. However, the "old guard", including former owner Milan Mandaric and ex-chief executive Lee Hoos, have now left, and that could pave the way for Pearson to consider making a return to the club.
He pulled City out of the doldrums of League One in his first season, and into the Championship play-offs in his second season. But the stumbling block for City would be Pearson's rising stock at Hull.
He had to drastically reduce the playing budget after a costly tumble out of the Premier League, and now, at the start of his second season, the Tigers sit just out of the play-off places on goal difference. Pearson has also shown continued faith in the players he had at City.
He took defender Jack Hobbs on loan before making it a permanent move, completed the £1.2million signing of Matty Fryatt and he also has City and England Under-21 striker Martyn Waghorn on loan.
A source close to Hull said: "I've seen him this week with his players at a signing session with young fans and he certainly didn't look like someone who was thinking about leaving. He had a big smile on his face."
The Mercury also understands that ex-Nottingham Forest and Derby County manager Davies has expressed an interest in completing an East Midlands managerial hat-trick.
In addition, Huddersfield boss Clark has seen his odds shorten with the bookmakers.
Completing the quartet of names is ex-Cardiff boss Jones, who has the benefit to City of being out of work which saves on a compensation package.
However, he has fallen short during the past three seasons in getting the Bluebirds out of the Championship.
Reading manager Brian McDermott has dismissed reports linking him with the vacant managerial post. Also ruling himself out is former City striker Paul Dickov, now at Oldham.
Club vice-chairman Aiyawatt 'Top' Raksriaksorn made it clear this week that appointing someone with Championship experience would be a major consideration.
While City now have these domestic targets on their radar, Raksriaksorn has said he will cast his net far and wide with Carlo Ancelotti and Rafa Benitez been mentioned as possible targets,
City are understood to be trailing Paris Saint-Germain defender Alassane Tambe.