Newcastle need to make an informed decision based on a potential Championship campaign as well as the remainder of this season.
The bookies' favourite for the job, David Moyes seems the perfect fit. That doesn't mean he'll succeed at Newcastle United but it gives him a good chance.
Moyes plays defensive football and defending is something Newcastle simply haven't done in years. The Scot has failed miserably at higher levels but the relegation battle could be the perfect stage for him to prove a point.
The likelihood is Newcastle will go down anyway, which means the Championship beckons - and that, too, could be perfect territory for a manager like Moyes, who needs a step away from the top flight after disastrous spells at Manchester United and Real Sociedad.
In many ways, Nigel Pearson would be a better choice than Moyes. He worked wonders at Leicester and, as a disciplinarian, he simply wouldn't take any nonsense from the Magpies.
It would be easy imagining Pearson getting rid of the dead wood and selling a number of Newcastle's poor players, dropping the rest at the first sign of a lack of heart or desire.
The disadvantage is the coach's fiery personality and controversial reputation. Would he get on with owner Mike Ashley?
An outside bet, Newcastle would struggle to prise Steve Bruce away from Hull at this moment in time. But, should Hull remain in the Championship, Bruce could perhaps be persuaded in the summer ahead of next season.
The Hull City boss has been linked with Newcastle in the past and was criticised during his time at Sunderland for being a Magpies fan. He is an expert at promotion chases, which is probably what will be needed at St James' Park next term.
* Odds released to HITC via press release