Silva is the bookies’ early favourite to take over from sacked Pellegrino.
Ex-Watford boss Marco Silva is an early favourite for new Southampton boss, following Mauricio Pellegrino’s dismissal.
The Portuguese tactician leads the market at 3/1, ahead of the likes of Slaven Bilic (4/1), Mark Hughes (7/1) and Martin O’Neill (8/1).
Pellegrino reportedly lost the backing of the Saints board following the 3-0 drubbing at relegation candidates Newcastle at the weekend.
His departure comes with Southampton sitting perilously close to the relegation spots in 17th place, accumulating just 27 points thus far in the campaign.
Silva was sacked by the Hornets on January 21, following interest from Everton which reportedly resulted in his tenure being ended.
Current Toffees boss Sam Allardyce is an outside shot at 18/1, with Brendan Rodgers (20/1), Harry Redknapp (22/1) and Frank De Boer (25/1) are fancied by bookies as candidates on the fringe.
Pellegrino was heavily backed in the next manager to leave market over the weekend, with 61% of bets placed, including the two largest stakes.
Oddschecker spokesperson George Elek said: “With news just breaking that Pellegrino has lost his job as Southampton boss, bookies have drawn up an initial shortlist to replace him.
“Ex-Watford manager Marco Silva is the early favourite, which is understandable considering his heavy Premier League ties and immediate availability.