Manuel Pellegrini is the favourite to succeed David Moyes as manager of West Ham United, with the club expected to make an announcement on their chosen candidate next week.

Pellegrini, who led Manchester City to the Premier League title in 2014 and is in charge at Hebei China Fortune, is due in London for talks with David Sullivan, the West Ham co-chairman.

Sullivan had issued a statement on Thursday that was bullish even by his standards. It reflected a confidence that a deal was close for the new manager and it has since emerged that Pellegrini could be easier to get than the other manager prominent on Sullivan’s wishlist – Rafael Benítez of Newcastle United.

“We are now very close to reaching an agreement,” Sullivan said. “We are preparing to appoint a manager who has a proven record of success at the highest level.”

There have been reports in Pellegrini’s native Chile that he has signed a contract at West Ham but the club say that is not true. Pellegrini is keen to return to Europe, where he managed Villarreal, Real Madrid and Málaga before his three-season stint at City.

Benítez was close to accepting the West Ham job in 2015 following the departure of Sam Allardyce only to move to Real Madrid. Sullivan has remained an admirer and Benítez is still in the frame. But there is the realisation that prising him from St James’ Park would be problematic.

Benítez has 12 months on his contract and it would effectively cost £6m to get him out of that. He wants assurances from the Newcastle owner, Mike Ashley, over transfers and proposed improvements to the training ground and academy.

Moyes joined West Ham last November on a contract to the end of the season and he succeeded in keeping the club in the Premier League after they were threatened by relegation. He felt he deserved another deal but he walked away on Wednesday after it became clear to him that the club were courting other managers.

West Ham’s Michail Antonio, meanwhile, is a target for Crystal Palace who are looking to build on their end-of-season momentum by completing early transfer business. Antonio, 28, can play in wide midfield, up front or even at full-back – versatility that has impressed Roy Hodgson – and the Palace manager would be likely to use him off the wing to cover the departure of Ruben Loftus-Cheek, whose loan from Chelsea has expired.

Palace fear that West Ham could place too high a price for them on Antonio, although the east London club’s intentions are not yet clear as they prioritise the appointment of a manager. Antonio has been called up by England but he is yet to win a cap.

Hodgson will be busy in the coming weeks. He will talk to Yohan Cabaye, Joel Ward and Bakary Sako about new contracts; the trio are set to become free agents in the summer.

Cabaye, who is wanted by Marseille, would prefer to remain in London but may have to accept a wage cut. Palace have explored midfield contingencies, such as Stoke City’s Joe Allen, and they also like Leander Dendoncker of Anderlecht.

Palace have an interest in the right-backs Almamy Touré and Ryan Fredericks of Monaco and Fulham respectively, and will sign the Getafe goalkeeper Vicente Guaita on a Bosman free transfer. They have offered fresh terms to their long-serving goalkeeper Julián Speroni.