Rafael Benitez is reportedly due to meet with members of Newcastle United's board this afternoon following the sacking of Steve McClaren on Friday.
In the past week, the former Real Madrid and Liverpool boss has been heavily tipped to take charge of the Magpies, despite McClaren still having the job at that time.
McClaren's fate seemed to be sealed after Newcastle lost 3-1 to Bournemouth on home turf six days ago.
Benitez, who has been out of work since getting sacked by Madrid on January 4, is believed to be close to signing a three-year deal with the North-East club.
According to Sky Sports News, the Spaniard will have a meeting with Newcastle's hierarchy this afternoon to discuss the recent vacancy.
The club are currently second from bottom in the Premier League table, one point from safety with 10 games left to play.