Sven-Goran Eriksson has been offered the Manchester City manager's job - providing former Thai PM Thaksin Shinawatra completes his takeover.
Eriksson's agent Athole Still claimed reports that the Swede had held two rounds of talks with Thaksin's representatives were "total rubbish".
But BBC Sport understands an offer has been put to the Swede, dependant on the proposed takeover.
Sevilla coach Juande Ramos has strong support within the current City regime.
BBC Radio Five Live football correspondent Jonathan Legard said: "I am told that Eriksson has now been offered the job by Thaksin. Whether he takes over is another matter. He is thinking it over.
"I have also been told it is not as clear-cut as the proposal involving Claudio Ranieri."
It is understood there are other targets on Thaksin's list, but Eriksson is the preferred option.
Ranieri was lined up to succeed sacked Stuart Pearce at City, but opted to join Juventus.
City are still waiting to hear whether Thaksin's takeover will proceed after some of his assets were frozen and he was ordered back to Bangkok to face corruption charges.
Eriksson has been out of work since leaving as England coach after their exit at the quarter-final stage to Portugal in last summer's World Cup.
City fans gave a lukewarm reception to reports of Eriksson's possible arrival.
"The supporters are 70-30 against Eriksson," said Heidi Pickup, of the Manchester City Supporters' Trust.
"He has a good record at club level but you cannot ignore all his mistakes with England. You would also have to ask whether he still has what it takes at club level because it's been several years since he last worked as a club manager.
"Personally I would be disappointed. The whole situation smacks of desperation."