Newcastle United chairman Freddy Shepherd has revealed some "top names" have applied for the manager's post.
The Evening Chronicle says that top foreign managers Roberto Mancini of Inter Milan, Lyon's Gerard Houllier and Dutchman Ronald Koeman of Benfica are all among them.
Shepherd said: "I know all of our supporters are very interested in what is happening with the vacant managerial position at St. James' Park, and I can tell you that we are making progress towards the appointment of a new manager.
"But, as I said last month, there is no need to hurry into a decision, and we will take the correct amount of time to ensure we get the appointment absolutely right.
"This will be one of the most important decisions ever taken at this football club, for we are entering a period in the game when the leading clubs are opening up a larger and larger gap between themselves and the others - and we have to maintain ourselves as one of those leading clubs.
"Rest assured, we are working ceaselessly towards getting our new manager in place, but only when the time is right will we name the man to lead the team in the immediate future.
"There has been a huge amount of speculation on the matter, and we have understandably distanced ourselves from that.
"But our supporters should know that there has been a great deal of interest in the position from an exciting list of coaches.
"One thing is for certain: we have a long list of candidates of the highest calibre to select from."
The Evening Chronicle says that top foreign managers Roberto Mancini of Inter Milan, Lyon's Gerard Houllier and Dutchman Ronald Koeman of Benfica are all among them.
Shepherd said: "I know all of our supporters are very interested in what is happening with the vacant managerial position at St. James' Park, and I can tell you that we are making progress towards the appointment of a new manager.
"But, as I said last month, there is no need to hurry into a decision, and we will take the correct amount of time to ensure we get the appointment absolutely right.
"This will be one of the most important decisions ever taken at this football club, for we are entering a period in the game when the leading clubs are opening up a larger and larger gap between themselves and the others - and we have to maintain ourselves as one of those leading clubs.
"Rest assured, we are working ceaselessly towards getting our new manager in place, but only when the time is right will we name the man to lead the team in the immediate future.
"There has been a huge amount of speculation on the matter, and we have understandably distanced ourselves from that.
"But our supporters should know that there has been a great deal of interest in the position from an exciting list of coaches.
"One thing is for certain: we have a long list of candidates of the highest calibre to select from."
