Nottingham Forest have called a press conference at 12.30pm to make an announcement on the managerial position at the Sky Bet Championship club.
Former Forest favourite Stuart Pearce claimed on Wednesday evening that it was "very likely" he would be taking charge at the City Ground, but added it was not expected to be until the summer.
Pearce, whose last role was with England's Under-21 side, initially turned down the job following talks last week, citing family reasons, but he appears to have now made a U-turn.
Forest have been looking for a new boss since owner and chairman Fawaz Al Hasawi dismissed Billy Davies on March 24 following a run of eight matches without a win, culminating in a 5-0 loss to bitter rivals Derby.
The Reds currently lie seventh in the Sky Bet Championship, two points adrift of a play-off place with seven games remaining.
Pearce told talkSPORT on Wednesday: ''I'm still talking with Nottingham Forest and I'm due to go up and meet them on Thursday."
When pressed on whether he will be the manager next season, Pearce added: ''It's very likely.''
Pearce, who spent two years as Manchester City boss before becoming England Under-21s coach in 2007, was first approached by Forest following Neil Warnock's decision to turn the job down.
Glenn Hoddle and Martin O'Neill were also linked with the post but it now appears that Pearce, who had a spell in caretaker charge in the 1996-97 season and also coached Great Britain at London 2012, will become club's eighth permanent appointment in as many years.
The 51-year-old spent 12 years with Forest as a player and admitted on Wednesday that he still had a lot of affection for the club.
''Forest have always been well supported whatever league they've been in, there's a rich history there,'' he said.
''It's a great club and one that's very close to my heart.''
Gary Brazil is in temporary charge of first-team affairs at the two-time European champions and looks likely to remain at the helm until the end of the season.