Following news overnight that the Anfield hierarchy are negotiating Benitez’s departure following a poor season on Merseyside, Villa Park chief O'Neill heads the early betting followed by Fulham manager Roy Hodgson at 10/3.
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However, Kenny Dalglish is also proving popular for a return at 5/1 whilst Guus Hiddink is 7/1 despite recently agreeing to take over as coach of Turkey.
Less likely names in Paddy Power’s betting include Everton boss David Moyes making the trip across Stanley Park at 80/1 and, hitherto unsuccessful managers, Liverpool legends John Barnes and Steve Staunton at 500/1 and 750/1 respectively.
Darren Haines, spokesman for Paddy Power, said: “The money says O’Neill but for many it would be a surprise as the canny coach tends to go somewhere heading in an upward direction.
"Despite that though the Liverpool job remains one of the biggest in English football and their betting on next manager will be frenetic.”
Next Permanent Liverpool Manager
9/4 O’Neill
10/3 Hodgson
5/1 Dalglish
7/1 Hiddink
12/1 Pellegrini
16/1 Hughes
18/1 Bilic
20/1 Van Gaal
20/1 Capello
22/1 Rijkaard
25/1 Klinsmann
33/1 Blanc
33/1 Jol
40/1 McLeish
40/1 Deschamps
50/1 Schuster
50/1 Magath
50/1 Eriksson
50/1 Lippi
50/1 Van Basten
80/1 Moyes
500/1 Barnes
750/1 Staunton
Others available
