Lincoln manager Danny Cowley and former England boss Steve McClaren are the early favourites to replace Mick McCarthy as manager of Ipswich Town.

East Anglian Daily Times: Mick McCarthy and Danny Cowley shake hands after the FA Cup third round meeting between Ipswich and Lincoln at Portman Road in 2017. Lincoln won the replay 1-0. Picture: Steve WallerMick McCarthy and Danny Cowley shake hands after the FA Cup third round meeting between Ipswich and Lincoln at Portman Road in 2017. Lincoln won the replay 1-0. Picture: Steve Waller (Image: Pagepix Ltd 07976 935738)

It was announced today that McCarthy will be leaving Portman Road at the end of the current season, after five-and-a-half years in charge after replacing Paul Jewell in 2012.

Bookmakers are already beginning to assemble lists of likely candidates, with Cowley and McClaren the early favourites.

McClaren, who was linked with the Blues at the weekend, started as the 2/1 favourite with Skybet with Cowley soon taking his place at the top with the same odds.

MORE: Mick McCarthy to leave Ipswich Town at the end of the season

East Anglian Daily Times: Colchester United head coach John McGreal is also on the list. Picture: STEVE WALLER WWW.STEPHENWALLER.COMColchester United head coach John McGreal is also on the list. Picture: STEVE WALLER WWW.STEPHENWALLER.COM (Image: � Copyright Stephen Waller)

The former Braintree boss, whose Lincoln side knocked Ipswich out of the FA Cup last season, is currently bidding for back-to-back promotions with the Imps, who sit a place and two points outside the League Two play-offs.

Other names on the early list is former Nottingham Forest boss Mark Warburton (9/1), Maurice Steijn of Dutch side VVV Venlo (11/1), former Tottenham and Aston Villa boss Tim Sherwood (18/1) and recently departed Reading manager Jaap Stam (20/1).

MORE: ‘It’s probably best for all of us’ – McCarthy’s first interview after departure announcement

There are plenty of managers with Ipswich connections on the bookies’ list, including Shefki Kuqi (5/1) Blackburn’s Tony Mowbray (8/1) and John McGreal of Colchester priced at 10/1, Former Blues boss George Burley is at 25/1 with Terry Butcher and Jim Magilton both at 33/1.

East Anglian Daily Times: Blackburn Rovers manager Tony Mowbray is one of the early favourites to replace Mick McCarthy.Blackburn Rovers manager Tony Mowbray is one of the early favourites to replace Mick McCarthy. (Image: PA Wire/PA Images)

Odds are correct at the time of writing.