STILIYAN PETROV told reporters last week that it wouldn't be long before his former gaffer Martin O'Neill was in more regular gainful employment than presiding over charity matches.

Little did he suspect that in a matter of days his words would acquire an eerie prescience. Within minutes of yesterday's not entirely unexpected news that Giovanni Trapattoni had parted company with the Republic of Ireland after five years in the job, bookmakers at least appeared to have made up their minds that the 61-year-old from Kilrea in the North was his chosen replacement.

John Delaney, the chief executive of the Football Association of Ireland (FAI), hardly dampened the prospect, explicitly naming O'Neill in the list of candidates which would be discussed by the FAI board before the end of the week, alongside the idea of a second stint in the job for Ipswich Town manager Mick McCarthy, or appointing Norwich City boss Chris Hughton, Brian McDermott of Leeds United or former midfield legend Roy Keane.

There is a logic to the theory that O'Neill is the right man at the right time. The former Leicester, Celtic and Aston Villa boss is out of work after a sudden end to a wounding period at Sunderland, would understand the native football culture better than the Italian and is possessed of the kind of seniority and gravitas which should suit a move into international football. Indeed, he impressed so much during the interview process as the English Football Association searched for a successor to Steve McClaren in 2007, that he thought that job might have been his.

"The FA led him to believe that he was getting it and then it turned out that he didn't get it so I know he was very disappointed about that," recalls Steve Claridge, the striker-turned-TV pundit who worked under him at Leicester. "But he almost seems to have gone out of fashion and I am really surprised that is the case. Plenty of other managers have had far worse times than he had at Sunderland and got other jobs whereas he seems to be automatically tainted."

But even if O'Neill is ultimately the man the FAI want, there are still obstacles to be overcome. Not least of these will be his salary demands and the expectations placed upon him by an eager public.

Although there were other complaints against Trapattoni - such as a perceived preference to check out players on DVD rather than travel to Premier League grounds in person and a knack of needlessly falling out with players - those famously exorbitant wages worked against him in the end.

Trapattoni, whose wages were part funded by Irish billionaire Denis O'Brien, actually negotiated his own salary downwards during his tenure from €1.7m to €1.2m, but O'Neill is also a man who knows his own worth and it remains to be seen whether the FAI are prepared to sanction a sum of a similar amount for him. For all their Scots-born headline acts such as James McCarthy and Aiden McGeady, results such as the 6-1 home reverse to Germany suggest the bulk of the squad are broadly comparable with the standard of player which Gordon Strachan has to work with.

That is why, amid a tidal wave of reaction to the move, Liam Brady told RTE Radio that he for one didn't feel the Northern Irishman would accept the position.

"There has been a lot of debate about what Trapattoni was being paid but I doubt he [O'Neill] will do it for much less than that," Brady said. "I have no problem with Martin but I would have my doubts as to whether he would take the job. Potential managers will look at the players at their disposal and the media expectation and other factors in Ireland may put him off."

Claridge isn't so sure. Having taken the Republic to one major finals, and been only a Thierry Henry handball away from another, the Italian's time will hardly be mentioned in the same tones as Berti Vogts. The expansion of Euro 2016 to 24 teams provides the Republic, as well as Scotland, with renewed hope. "I think he would be a good Republic of Ireland manager but I hasten to add that expectation has to come down a little bit there," said Claridge.

"Their fans have no right to expect to beat some of those teams. That is something Martin will look at because he is very good at taking jobs at the right time, weighing up the pros and cons.

"I don't think Mick would go back," added Claridge. "He has been there seen in it done it, Ipswich are a big club and you can't keep stepping away from it and going back into the international arena. Say what you like about Roy Keane but he isn't proven as a manager.

"Chris Hughton isn't established yet either, he needs to make sure he makes Norwich into an established Premier League team first. Martin is the outstanding candidate. Not because I played under him and I like him, it just makes sense."