Leicester City sprung something of a surprise yesterday evening with the announcement that they had parted company with manager Nigel Pearson.

The news came just a matter of weeks after Pearson had guided the Foxes to Premier League survival against all odds.

Yet, as is often the case in this type of situation, rumours are already rife as to who will replace the 51-year-old at the King Power Stadium.

Here, Sports Mole has taken a look at all of the early runners and riders to pick out five potential candidates for the vacancy.

1. Sam Allardyce

Upon his departure from West Ham United at the end of last season, Allardyce stated his intention to take a break from the game. Yet, an instant return to the Premier League may be too big a temptation for the 60-year-old, who is the early favourite with the bookmakers, to resist. If Leicester are keen to establish themselves as a Premier League club after last season's close shave, then Allardyce's track record would suggest that he is the man that they are looking for.

2. Neil Lennon

Another man with a Bolton Wanderers connection is Lennon, who is the current boss at the Macron Stadium. Having won five trophies during his four-year stint in charge of Celtic North of the border, the 44-year-old has plenty of experience, albeit not in England's top division. However, he could well be a popular appointment, having been a favourite of the fans during his time as a player at Leicester. During his four seasons at Filbert Street, he helped the club to win the League Cup twice.

3. Martin O'Neill

If Lennon were to be a romantic appointment, the return of O'Neill would be a true love story. The Northern Irishman took charge of Leicester in 1995 and he had an immediate impact, guiding the club to the Premier League via the Division One playoffs. As well as keeping the club there, he oversaw the two aforementioned League Cup triumphs. He departed for Celtic in the year 2000, which is when his impact was truly shown. Leicester struggled without him and were relegated a few years later. Currently the head coach of the Republic of Ireland, it would be a surprise if the 63-year-old were willing to return to the rigours of club management.

4. Sean Dyche

Having had a brief taste of life in the Premier League last term, Dyche has already expressed his desire to have a second crack. There is no doubting the 44-year-old's loyalty to Burnley, but perhaps a switch to Leicester would be appealing. Critics will point to the fact that he was unable to keep the Clarets in the Premier League last term, but in Dyche's defence, he was forced to work with an extremely small budget and his side still made a decent attempt at survival. Leicester will allow him to cast his net further in the transfer market.

5. Esteban Cambiasso

It may be an odd decision to appoint Cambiasso, but then stranger things have happened in football. The veteran midfielder arrived at the King Power Stadium last summer and despite his ageing legs, he played a major role in helping the club to secure its Premier League status. The 34-year-old has not actually signed a new playing contract yet, so he is technically a free agent. Whether he is ready to take the bold step into management, only he will know, but he does have a vast experience from his playing career to date.