With Rafael Benitez leaving St James' Park, it leaves the door open for another big name to enter, but which one will it be?
It was announced the Spaniard would leave Newcastle on June 30 when his contract expires as the club failed to reach a new agreement with Benitez, bringing an end to his three years on Tyneside.
With one door closing, another one opens, but which manager would be bold enough to take on the job, and who would be capable of keeping Newcastle out of a relegation fight?
Here, Sky Bet give the latest odds on the favourites...
Garry Monk - 11/2 with Sky Bet
Monk's only Premier League managerial stint came with Swansea, and was arguably a very successful one at that. He led the club to an eighth-place finish in the 2014/15 campaign, registering a record points tally and becoming only the third team in Premier League history at the time to win both home and away against Arsenal and Manchester United in the same season.
Despite this, Monk has had three jobs in as many years since departing. He enjoyed a spell at Leeds which ended in disappointment as they missed out on the play-offs, followed by an unsuccessful stint at Middlesbrough and a relatively successful one at Birmingham last year. However, his recent record could prove detriment to his chances of being offered the job at Newcastle.
Jose Mourinho - 3/1 with Sky Bet
Mourinho has stated he would consider a spell at Newcastle, which would pose a differing style of job from his time at Chelsea and Manchester United. Firstly, would he be able to work under this style of stewardship? Perhaps, when you consider recent battles with Ed Woodward and Roman Abramovich. The only hindrance may be whether a proposed Newcastle takeover goers through, which would probably make Mourinho the more likely option if this was to be the case, rather than if Mike Ashley still held ownership.
Claudio Ranieri - 7/1 with Sky Bet
Although Ranieri could not save the sinking ship that was Fulham last term, his odds have been slashed formidably from 33/1 to 7/1. He has undoubted experience and achieved the miracle that nobody thought was possible when Leicester won the Premier League.
Ranieri finished the 2018/19 campaign at Roma, but is a free agent once more and could be set to make yet another return to the Premier League. Could he do it with the current squad that Newcastle have, not to mention the lack of funds? You would not certainly not back against it.
Chris Hughton - 9/1 with Sky Bet
Hughton guided Newcastle to Championship promotion in the 2009/10 season, losing only four of their 46 league matches during that year. He has since enjoyed four-and-a-half years in charge of Brighton most recently, galvanising his Premier League experience, with many believing he did all he could with the squad he was in possession of at the Premier League club. The odds look long but very healthy in Hughton's favour, which could also be a favourite with the fans too.
Mikel Arteta - 9/1 with Sky Bet
Learning from the best in Pep Guardiola, Arteta has already been linked with previous Premier League jobs. It is a tricky one to dissect when you consider some of the more experienced managers in contention, although his knowledge and understanding of the game could well put him in prime contention to land the job.
Giovanni van Bronckhorst - 10/1 with Sky Bet
The former Netherlands international has already expressed his interest in the Newcastle post and he possesses a good track record from the four years he spent at Feyenoord. He won both the domestic cup and Eredivisie title inside his first two years in charge, leading the club to their first league title in 18 years. Van Bronckhorst has thrown his name into the hat and why would you not consider hiring a man of this calibre?