New favourite emerges to replace Gareth Southgate as England manager and it's bad news for one Premier League club

A new favourite to replace Gareth Southgate as England manager has emerged, but it's not good news for one Premier League club.

On Tuesday the Football Association confirmed that Southgate had stepped down from his position as England men's manager after almost eight years in the job.

The news came less than 48 hours after England lost 2-1 to Spain in the final of Euro 2024, becoming the first team ever to lose back-to-back European Championship finals.

Upon resigning, the 53-year-old described managing England as "the honour of my life", but admitted that it was "time for a change."

Having led the Three Lions to two Euros finals as well as the semi-finals and quarter-finals of the World Cup, Southgate is undoubtedly one of England's greatest ever managers.

From a holistic point of view, the work Southgate did to restructure the national team and create an environment that worked for both players and fans makes him arguably the most important England boss ever.

Now the FA face the unenviable task of appointing his successor.

Plenty of big names are in the running, and Newcastle boss Eddie Howe appears to be the new favourite.

SkyBet have cut the odds of the 44-year-old to succeed Southgate to 2/1, making him the new favourite ahead of former Chelsea and Brighton coach Graham Potter (5/2).

Howe has previously described the England post as "the ultimate" job, but Newcastle have made it clear that they will fight to keep him at St James' Park.

Eddie Howe is the favourite to replace Gareth Southgate as England manager (Getty)

Howe signed a long-term contract extension in 2022, a deal that reportedly includes a £5 million release clause.

With pre-season already underway and the new Premier League season starting in just over four week's time, losing Howe would leave Newcastle in a tricky situation.

Potter is now the second favourite, although he has been unemployed since being sacked by Chelsea in April 2023 after just 31 games in charge.

England Under-21s boss Lee Carsley is the third favourite at 10/3, and he has the benefit of already knowing the next generation of English stars.

Frank Lampard and former Liverpool boss Jurgen Klopp are both 8/1, although the latter is unlikely to be available after turning down an approach from the United States in favour of taking a break from management.

Mauricio Pochettino, who left Chelsea at the end of last season, is 12/1, and has a good reputation for working with young English players.

According to The Independent, the FA would be open to appointing an interim boss if they can persuade Pep Guardiola to take the England job if he leaves Manchester City in 2025.

The FA have said that should they not find the right permanent candidate, then they will appoint a coach on an interim basis.