Kenny Jackett is the latest favourite with the bookies to become the new Cobblers boss.
The former Watford, Millwall, Swansea City and Wolves boss is as short as 4/5 to take over at Sixfields with BetVictor, and he is also the 11/10 favourite with Sky Bet.
But the Chron understands there could be a stumbling block to the 54-year-old taking any new job following his abrupt departure from Rotherham United in November.
Jackett took the Millers job on October 21 after the sacking of Alan Stubbs, but quit the post just 39 days and five games in this three-year contract, having claimed just one point out of a possible 15.
And after speaking to media sources in south Yorkshire, it is understood that as part of the Rotherham allowing him to leave the New York Stadium on November 27, Jackett agreed to a deal that he would not to take over at any other club for a period of six months.
If that is the case, it means Jackett is out of the football managing picture until the end of May, and that would obviously mean he is unable to consider taking over at the Cobblers.
Nothing has been made public on the situation by Rotherham or Jackett, but at the time of his departure, Millers chairman Tony Stewart said: “I’m shocked, but life goes on.
“It happened on Saturday night (after a 2-1 home loss against Leeds United) when he said he thought he should resign. I said we’re in it for the long fix not the short fix and told him to sleep on it.
“Sunday morning came up and he said he felt the same and that was it.
“Nothing whatsoever had gone off behind the scenes. It was his decision. There was no aggro or fall-out.
“It was really unexpected. There was no row. He was here for only five games. We haven’t had time to exchange harsh words!”