RYAN GIGGS would be happy to talk to Sunderland about the vacant manager’s position at the Stadium of Light, but he is still miles away from accepting the challenge of leading a promotion charge.

Black Cats fans desperate for some positive news on the managerial front quickly sought further information after bookmakers suddenly installed the Welshman as the new favourite for the job.

Odds were slashed from 25/1 to 1/5 in some places when bookies clearly felt the market had moved to such an extent that Giggs was set to be named as David Moyes’ successor.

However, sources close to the former Manchester United winger and to Sunderland all played down talk that there had been an approach and that a deal was set to take place.

The situation was very similar to ten days ago when Giggs was backed into be the favourite for the Middlesbrough job, only for him to move out again with Nigel Pearson and Garry Monk preferred.

The word then was that the former Wales international was not keen to drop down to the Championship, although that has changed slightly. While not stating he would accept the challenge, he would be more than happy to talk with either club.

The 43-year-old has waited for the right job to come along and he has been linked with a number of Premier League clubs in recent months, including Swansea when he was overlooked for Paul Clement.

Giggs is desperate for a crack at frontline management after serving his apprenticeship under Louis van Gaal at Old Trafford, but he would only take on a job if he felt he had the backing room the boardroom; his preference is for a Premier League post.

Sunderland chief executive Martin Bain is the man tasked with appointing the new boss and after returning from a break last week he has stepped up the search in the last couple of days.

Aberdeen’s Derek McInnes had been the favourite for a number of days after he was recommended to Bain by former Rangers manager Walter Smith.

The Dons boss has gone on holiday, so alternatives are being considered to form a short-list and Giggs comes into that bracket because he is a free agent and should be able to attract good players. He does not, though, tick the box of boasting Championship experience.

Despite Alan Pardew’s insistence he would not be interested, the former Newcastle United manager is strongly fancied as well. Otherwise the likes of Nigel Clough, Simon Grayson, Paul Lambert and Paul Heckingbottom are among the contenders.