Recently sacked Stoke City manager Gary Rowett is the 9/1 third favourite to take over from Aitor Karanka at Nottingham Forest.
Karanka left Forest after asking to be released from his contract, with the 45-year-old's future at the City Ground up in the air ever since the side blew a three goal lead to draw 3-3 with Norwich City on December 26.
A statement from the club's official website read: "Aitor Karanka has asked to be released from his contract as the manager of Nottingham Forest Football Club.
"The club have agreed to this request and the terms of departure have been agreed.