Newcastle may be about to land Rafael Benitez as their new manager.
The Magpies are allegedly about to sack manager McClaren, having seen his side lose 3-1 at home to Bournemouth on Saturday afternoon.
With Newcastle 19th in the Premier League table and losing five of the last matches, the threat of relegation to the Championship is strong right now, and it may take a change of manager to spark the club back into life again.
McClaren's seemingly imminent departure comes less than a year since he appointed as Magpies boss, but it seems that Newcastle now have a huge appointment in mind.
The Mirror report that Newcastle are edging towards securing Rafael Benitez as their new manager, with the Spaniard close to agreeing a deal to replace McClaren ahead of Monday's trip to face Leicester City.
The 55-year-old, who left Real Madrid in January, has had two spells in the Premier League before with Liverpool and Chelsea, whilst he famously won the Champions League with Liverpool.
Fans are unsurprisingly excited about the prospect of seeing the Spaniard take the reins on Tyneside, but landing a manager of his reputation and stature won't come cheap.
The Mirror report that Benitez's salary will be around £4m, which is four times as much as McClaren, with Newcastle seemingly prepared to spend their way out of trouble - and with the new TV money coming in this summer, the expensive appointment of Benitez could be money well spent if he manages to keep Newcastle in the Premier League.
Do you think Benitez would keep Newcastle in the Premier League?