Ole Gunnar Solskjaer has officially opened talks with Aston Villa about becoming the club's new manager.
Solskjaer is currently in charge of Molde, a club where he spent two years prior to joining Manchester United in 1996 with whom he made 366 appearances, scoring 126 goals in 11 seasons.
A statement on Molde's website read: "Molde Football Club is aware of interest and contact from Aston Villa, and is aware that Aston Villa and Ole Gunnar Solskjaer are holding talks."
Solskjaer's odds on taking up the post vacated by Alex McLeish on Monday following the Scot's sacking were slashed on Thursday down to 6-4 from 25-1, with the Norwegian now odds-on favourite.
Lerner's private jet flew into Solskjaer's home town of Kristiansund on Thursday to collect the 39-year-old and fly him to Birmingham to begin negotiations.
Solskjaer is seen as the young, progressive manager required by Lerner after first failing with Gerard Houllier and then McLeish in the wake of Martin O'Neill's departure in August 2010.
After quitting playing in 2008, Solskjaer took charge of United's reserve team for two-and-a-half years before guiding Molde to their first Norwegian league title in 100 years last October at the end of his debut campaign in charge.
Solskjaer, however, is just one year into a four-year contract, and can look forward to Champions League football next season.
Another consideration for the man who earned the nickname of 'the baby-faced assassin' during his United days is his family of wife Silje and three children and whether to uproot them given they have only just settled in Norway.
However, the lure of Barclays Premier League football and going head to head with old mentor in Sir Alex Ferguson, as well as reviving Villa's hopes following a woeful season, is likely to prove irresistible.