Sunderland manager: Derby coach Kevin Phillips new favourite to be Black Cats boss
The former striker has seen his odds slashed to now lead the betting.
He is 6/4 with SkyBet and evens with Ladbrokes to be David Moyes' successor, while he was priced at 25/1 last night.
The 43-year-old is coach at Derby County and had been tipped early in the running after Moyes resigned more than three weeks ago.
Phillips is known to be keen to get into management and while he doesn't have the experience of other candidates, he would be a name a lot of fans would welcome.
Super Kev enjoyed a goal-laden time on Wearside, scoring 130 goals in 235 appearances for the Wearsiders, during which time he also won the European Golden Shoe in the 1999/2000 season.
Derek McInnes, Simon Grayson and Garry Monk remain among the favourites with the bookmakers.