MK Dons sacked Manning on Sunday with the club second from bottom in League One. The decision came after Saturday’s home defeat to Fleetwood Town, with the club six points from safety and only off the bottom of the division on goal difference.

After finishing third last term, and just one point off an automatic promotion place, sporting director Liam Sweeting said it was the right time for a change: “Liam, Chris and David have worked tirelessly over the last 16 months and we are hugely grateful for their dedication as well as what they were able to achieve on and off the pitch, particularly last season.

“As well as being thoroughly professional and dedicated, they have represented the club impeccably throughout their time with us. Our thanks as well to Darren, who stepped in to help us during a difficult period.

PETERBOROUGH, ENGLAND - JANUARY 08: Manager of Peterborough Darren Ferguson looks on during the Emirates FA Cup Third Round match between Peterborough United and Bristol Rovers at Weston Homes Stadium on January 08, 2022 in Peterborough, England. (Photo by Julian Finney/Getty Images)

“Ultimately, given the position we find ourselves in, our decision now is to change the leadership and my full focus is on identifying and appointing the right person to, first and foremost, guide us out of this current situation, before then taking us forward. That process begins immediately."

Ferguson is the favourite with the bookmakers after resigning as Peterborough United manager in February. The 50-year-old, who is the son of Manchester United legend Sir Alex Ferguson, made over 450 appearances during his playing career before moving into management in 2007.

He has had three spells in charge at Peterborough and been in charge at Preston North End and Doncaster, where he was at the helm between 2015 and 2018. Rovers were relegated from League One under Ferguson in 2016 but bounced back immediately as they finished third in League Two in 2017. He left South Yorkshire in June 2018 after the club finished 15th in the third tier.

Next MK Dons manager odds (correct as of 11.55am, December 12, 2022)

Darren Ferguson – 4/1

Leam Richardson – 8/1

Marc Bircham – 10/1

Steve Morison – 12/1

Kenny Jackett – 12/1

Dean Holden – 12/1

Brian Barry Murphy – 12/1

Sean Dyche – 16/1

Lee Bowyer – 16/1

Duncan Ferguson – 16/1

David Artell – 16/1

Andy Woodman – 16/1

Next MK Dons manager: Former Doncaster Rovers, Preston North End and Peterborough United boss favourite for League One vacancy