Colin Calderwood will race to the top of Swindon Town's managerial wish-list if he is sacked by Nottingham Forest this weekend.

Sources at the County Ground have indicated that chairman Andrew Fitton is watching the Calderwood situation closely after reports that the manager was set to be axed in favour of Billy Davies earlier this week.

And the Daily Press has been told that Fitton will move to arrange talks with the former County Ground defender when he returns from a business trip to America next week – should Calderwood be relieved of his duties in the meantime.

The Scotsman could be sacked if Forest, who are currently bottom of the Championship, fail to beat Barnsley this afternoon but Fitton is still likely to maintain his interest even if the City Ground hierarchy keep faith with Calderwood for the next couple of weeks

Fitton is believed to be impressed with the job Calderwood did at Northampton – where he won promotion from League Two in 2006 and won 45 per cent of his matches in charge. This meets one of the key criteria that any potential new manager would need to have.

The Town board, however, are keen to have a new man installed before the start of the January transfer window and the interview process has already started.

Ian Holloway and John Ward were both interviewed on Thursday along with one other unnamed candidate, who is already in a job but has been given permission by his club to speak to Fitton.

That man, however, is not believed to be Martin Ling of Leyton Orient – even though he was backed in from 16/1 to 3/1 favourite with bookmakers Victor Chandler yesterday.

The so far unnamed 'blow your socks off' candidate has also yet to be interviewed and speculation that Stuart Pearce is being lined up for the job also appears to be wide of the mark.

The Wiltshire-based England Under-21 boss has also had his odds slashed from 20-1 to 7-1 but is not believed to be on Swindon Town chief Fitton's shortlist.