Obviously the Toon boss will be in contention ... but would he take it?
He has unfinished business at St James' Park and he has told his players he is here for "the long haul".
And there could be good news for Toon fans, one man could rise to the top as the FA's number one target, and he seems to be interested.
Jose Mourinho says he would be interested in managing England, according to some newspaper reports on Friday morning.
Will Allardyce Take England Job?
The Sun claims that, should England fail to qualify for Euro 2008, as seems inevitable, Mourinho would be willing to 'discuss the job' with the FA.
Mourinho has a clause in his severance agreement with Chelsea stating that he cannot manage another English club side until 2008, but the provision does not include the national job.
The Portuguese boss is favourite with most bookies to take over, but his apparent preferance to manage a club side - most likely in either Italy or Germany - seemed to put him out of the frame.
However, The Sun quotes the ubiquitous 'close pal' of Mourinho as saying:
"He knows English football as well as anyone and sees it as a great challenge to coach the national side.
"His record speaks for itself and if the FA parted company with McClaren, Jose is willing to discuss the job with them."
The Times is less confident of Mourinho's interest, and instead puts Jurgen Klinsmann forward as an alternative candidate.