Reid's revival to begin at Burnley

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The Championship side have money to spend following the recent addition of property tycoon Brendan Flood to the board and see former Sunderland boss Reid as someone who can manage those funds.

Reid, 51, wants to revive his career and believes the club has the right platform for him to restore the reputation he held at Manchester City and Sunderland.

He was disappointed at the way his spell at Coventry ended in 2005 after initial plans for major investment failed to materialise.

Burnley have also held talks with former Wigan boss Paul Jewell and ex-Luton manager Mike Newell and were rebuffed with an approach for Sheffield Wednesday boss Brian Laws.

Meanwhile, Everton assistant manager Alan Irvine, 48, is set to be unveiled as Preston's new manager in the next two days after holding talks with chairman Derek Shaw on Monday.

Everton gave permission for the meeting after he expressed an interest in succeeding the sacked Paul Simpson.