Mick McCarthy is leading the running to replace Martin O’Neill as Republic of Ireland manager after he was forced to step down following crisis talks with chief executive of the Football Association of Ireland, John Delaney.

The FAI is keen to make a swift appointment and has indicated to sources in Ireland that the new manager will be in place before the draw for Euro 2020 qualification is made in Dublin on December 2nd. That would suggest they already have someone in mind who is not currently employed.

It is believed that former Ireland manager McCarthy, who was in charge the last time the team qualified for a World Cup in 2002, has already indicated he would be interested in taking on the role for a second time. McCarthy has been out of work since he quit Ipswich Town back in April and is itching to return.

There is also some support within the FAI for Dundalk manager Stephen Kenny, although the 47 year-old would be a risky choice given he has never managed outside of the League of Ireland before.

It is understood neither Sam Allardyce nor Steve Bruce have had any contact with the FAI at this stage, while another potential candidate, Brighton manager Chris Hughton, has no desire to leave the Premier League club.

Telegraph Sport revealed that O’Neill was set to lose his job on Wednesday morning after he was summoned for talks on Tuesday night. Assistant manager Roy Keane has also been dismissed and it remains to be seen if they seek reemployment as a managerial team or go their separate ways.

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Having been led to believe he would still be in charge of the team for the start of the Euro 2020 campaign, O’Neill expressed his sadness at being told his time had come to an end.

“I have had the great honour of managing the Republic of Ireland National football team for the past five years and it is with a heavy heart that I leave this role,” he said in a statement released by the League Manager’s Association.

“It was one of my lifetime ambitions to take charge of the Irish Senior squad and I would like to thank the FAI Board for giving me that opportunity.

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“I will not forget the night in Lille when we beat Italy to secure the nation’s best ever achievement in the Euros competition, the terrific night we beat the World Champions Germany at home in Dublin, or James McClean's goal in that euphoric win against Wales in Cardiff that put us through to the play-offs for this year’s World Cup.

“Knowing that the past year would be a transitional phase for the squad, I have capped twelve new players in the last nine games, with the aim that they become significant international contributors in the coming campaign.

“To the players, I reserve great praise and admiration for the phenomenal commitment they have shown whilst wearing the Irish shirt. Having had these great experiences in my spell as the Irish international manager, I am looking forward to my next adventure in football.”

Ireland fans have grown disgruntled credit: pa

Despite his success in his first four years in charge, Ireland have failed to score a goal in more than six hours and have not won a competitive game in 2018. With supporters venting their frustration in the direction of Delaney and the FAI, rather than O’Neill and his assistant Roy Keane, it seems the management team were partly sacrificed in order to quell the dissent.

Sources within the FAI have told Telegraph Sport that Delaney was particularly alarmed by the fact only 31,000 people attended last week’s friendly match against Northern Ireland, with concern growing over the state of the organisation’s finances.