Toshack is expected to confirmhis departure this week,although he may agree toremain in charge for nextmonth's qualifying doubleheaderagainst Bulgaria andSwitzerland so as not to leavehis country in the lurch.
As revealed in Sportsmailyesterday, Toshack has recommendedGiggs as his successorand the FAW now plan to try tolure the United winger into hisfirst coaching role.
Will he or won't he? Giggs will need persuading to rejoin the Wales set-up
Although it is highly unlikelyGiggs will consider managing his country until his playingcareer is over and would bediscouraged from doing so byhis club boss Sir Alex Ferguson the FAW are understandablykeen to get him involved.
One possibility under discussioninvolves asking Giggs to beinvolved with a new or caretaker coach for the remainderof this international season.
That would involve Giggs teamingup with Wales for matchesand working in a new set-up butwould not lumber him with theresponsibility of scouting playersor picking squads.
Such an arrangement is muchmore likely to appeal to theformer Wales captain, andindeed to United, at a timewhen Giggs is still trying toextend his playing days.
End of the road: Toshack is set to quit as Wales boss
Giggs quit international footballin May 2007, having won 64caps during a 16-year internationalcareer.
Last season heplayed down suggestions hemay return, saying that hewould do so only 'in an emergency'.
He does have aspirationsto be a coach, however.
Hehas already taken some of hiscoaching badges on summercourses and the opportunity tobe involved with his country ata time when there are a plethoraof young, impressionableplayers in Toshack's full squadis sure to appeal.
Wales have a qualifying gameagainst England in March andit is very possible he will beinvolved by then.
Last night the FAW were stillmulling over the options as theyprepare to bring the curtaindown on Toshack's six-yearreign as coach.One option under considerationis to give Wales youth bossBrian Flynn the job and askGiggs to help him.
There is,however, also support for formerWales defender Chris Colemanwhile current Wrexham bossDean Saunders is an outsidebet. Gary Speed, recentlyappointed Sheffield Unitedboss, is another popularcandidate.
Wales have history when itcomes to hiring rookie managersas Giggs's former Unitedteam-mate Mark Hughes wasstill playing when he becamehis country's coach in 1999.
Toshack quits and tips United stalwart Giggs to be the next Wales bossBulgaria is a must-win game, warns Wales winger Gareth Bale Montenegro 1 Wales 0: Toshack and Collins floored in Montenegro