Leicester chairman Milan Mandaric wants to appoint a new boss within two weeks - and warned he will have to deliver a concerted promotion push.
Ian Holloway left the Foxes by mutual consent earlier this month after being unable to prevent the club suffering the ignominy of being relegated to League One.
Mandaric is now keen to fill the vacant managerial post at the Walkers Stadium and has revealed transfer funds will be in place for squad reinforcement.
"We are looking to prune the shortlist down from 20 to five, but hope to have a new man in place within a fortnight," Mandaric told Sky Sports News.
"They (new man) will be properly supported, we will bring in a quality football-winning man to help us sort out the team and put things together properly.
"This club doesn't belong in this league, it is a big club with tremendous support - we already have 10,000 people with season tickets for next season. We have an ambitious chairman who won't tolerate anything else other than taking the club where it wants to be."