Andoni Iraola has seen his odds slashed from 3/1 to 7/4 following reports that Victor Orta has jetted out to Madrid to 'negotiate a deal' with the Rayo Vallecano boss.
That is according to the Daily Mail, who claim that Orta met with the Leeds United players to update them on the current managerial situation prior to his trip to Spain.
Iraola appears to fit the profile of the club, with his attacking style of play helping propel Vallecano from the second-tier to top four contenders in two-and-a-half years.
There is also the obvious connection with legendary Leeds manager Marcelo Bielsa, who Iraola played under for two seasons at Athletic Bilbao.
READ MORE: Next Leeds United manager LIVE: Orta's Madrid Iraola talks, Corberan's new deal, Radrizzani hint
However, Feyenoord boss Arne Slot remains the odds-on favourite to succeed Jesse Marsch at Elland Road. The Dutchman was 7/2 on Tuesday but saw his odds on Betfair rocket up to 2/5 over the course of yesterday evening.
Ex-Southampton manager Ralph Hasenhuttl is the third-favourite at 12/1. He has been out of work since his sacking from the Saints in November after four years at St Mary's.
Hasenhuttl was heavily linked with the managerial vacancy at Hoffenheim following the sacking of Andre Breitenreiter on Monday. But the Austrian reportedly turned down the chance to return to the Bundesliga.
Former frontrunner Carlos Corberan has inevitably dropped out of the running after penning a new long-term deal at West Brom.
Elsewhere, Steven Gerrard and Nuno Espirito Santo are available on Betfair at 16/1, while Mauricio Pochettino and Marcelino Garcia Toral are both 18/1.
Betfair: Next permanent Leeds manager
Arne Slot: 2/5
Andoni Iraola: 7/4
Ralph Hasenhuttl: 12/1
Steven Gerrard 16/1
Nuno Espirito Santo: 16/1
Mauricio Pochettino 18/1
Marcelino Garcia Toral: 18/1
Ange Postecoglou 20/1
Marcelo Bielsa 20/1
Luis Enrique 20/1
Jose Mourinho: 20/1
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