Former Boro skipper Pearson would certainly be a popular choice among the club’s supporters, and they can back at 4/1 (BetVictor) and 3/1 (Sun Bets).
He played over 100 games for them during the mid-nineties, captaining them to promotion twice and to three Wembley cup finals.
The 53-year-old has been out of work since leaving Derby County in October following a short-term spell in charge.
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However, he performed a miracle in keeping Leicester up two years ago when they looked dead and buried before leaving that summer, and Boro chairman Steve Gibson may be hoping Pearson can pull off a similar feat.
Roy Hodgson is another of the leading names in the running for the job, with his price currently at 6/1 (BetVictor) and 5/1 (Sun Bets).
Aitor Karanka has been sacked by Middlesbrough after a disastrous run of resultsGetty ImagesSteve Gibson has decided to axe Aitor Karanka with 11 games left of the seasonGetty ImagesNigel Pearson was captain of Middlesbrough in the 90s and led them to promotion twiceNews Group Newspapers Ltd
The experienced coach left his position as England boss last year after a disastrous Euro 2016, but he remains a respected figure in the game.
A more surprising name among the early favourites is Alan Pardew, priced at 6/1 (BetVictor) and 8/1 (Sun Bets).
He spent four years in charge of Boro’s north east rivals Newcastle before taking over at Crystal Palace.
Next Middlesbrough manager odds
BetVictor Steve Agnew 4/1 Nigel Pearson 4/1 Alan Pardew 6/1 Roy Hodgson 6/1 Sun Bets Nigel Pearson 3/1 Roy Hodgson 5/1 Steve McClaren 7/1 Alan Pardew 8/1
Former England boss Roy Hodgson is also among the early favourites for the Boro jobPA:Press AssociationEx-Newcastle and Crystal Palace manager Alan Pardew is a surprise name among the favouritesGetty Images
After a poor start to the season, Pardew was sacked by the Eagles in December and has been out of work since.
Middlesbrough coach Steve Agnew, who has been placed in temporary charge following Karanka’s departure, is also a favourite with BetVictor at 4/1 to land the gig permanently.
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