Alan Stubbs is expected to be unveiled today by English Championship club Rotherham United who finished the season one place above the relegation zone.
Hibs reluctantly granted the Millers permission to speak to him and it is understood that a three-year deal was agreed.
United Chairman Tony Stewart said that compensation is the only thing left to sort out and Stubbs is expected to take first-team coach John Doolan with him.
Betting has started on Stubbs’ replacement with John ‘Yogi’ Hughes, who last month quit Inverness, is the bookies’ favourite at 4/1.
Former Burnley and Bolton manager Owen Coyle is 5/1 second favourite, while former Rangers and Motherwell manager Stuart McCall, John Collins who managed Hibs from 2006-2007, winning the CIS League Cup and Ross County boss Jim McIntyre are also 6/1.
Other names being touted include Alex McLeish, Tony Mowbray and Malky Mackay.