Portsmouth director of football Harry Redknapp has confirmed he is interested in taking over at Leicester City.
But the former West Ham manager, tipped as the favourite to take over from the sacked Peter Taylor, admitted that taking on responsibility of the relegation favourites would be difficult.
He told Sky Sportstelevision: "I want to talk to Leicester to see what the job is all about. But there doesn't seem to be much money around at the club, but I owe it to myself to see what they are offering. The truth is I miss being a manager.
"It's a good job, but whoever takes it has got a hard job. They're the bookmakers' favourites to go down."
Leicester chairman John Elsom welcomed Redknapp's interest.
"If Harry is one of the people interested in the job, I'm absolutely sure we will be speaking to him," Elsom told BBCradio on Tuesday.
Elsom and the club's directors will meet this week to discuss candidates for the post.
The club, currently bottom of the Premiership after only one win in eight games this season, hope to have a new manager in place for their match at Chelsea on October 13th.
"You're going to have a period of quiet from us while we talk and see a few people and then we hope to be making an announcement fairly soon," Elsom added.
Other candidates for the job include former Arsenal, Leeds United and Tottenham Hotspur manager George Graham, who was sacked by Spurs in March and is currently working as a media pundit.
"We can only talk to people who may wish to be interested in the job," Elsom said when asked about Graham.
"I don't think it's for me to approach (candidates). If people wish to make applications for the job they will do so."
Two other leading managers currently available are former Everton and Manchester City boss Joe Royle and Gordon Strachan, who left first division Coventry City five games into the new season.