Blackpool have reportedly already hired former Birmingham manager Lee Clark amid speculation linking him to the vacant job.
Jose Riga was axed from his position at Bloomfield Road on Monday as the Tangerines sit bottom of the Championship table and seven points adrift of safety.
Chairman Karl Oyston is said to have approached Owen Coyle and Gary Rowett - who has since been appointed at St Andrew's following Clark's sacking 10 days ago - only to be rejected.
However, Blackpool have now reached an agreement with Clark and the 42-year-old will be unveiled this afternoon, according to Sky Sports News.
Clark has been in management since 2008 and enjoyed a successful four-year stint with Huddersfield Town before joining Birmingham in 2012.
