Middlesbrough chairman Steve Gibson hopes to be able to name Gareth Southgate's successor as manager within the next 48 hours.

Gibson, who dismissed the former England defender late on Tuesday night, did so having already made enquiries over a replacement after deciding up to three weeks earlier a change was needed.

Gordon Strachan was swiftly installed as the bookmakers' favourite for the vacant post with Ladbrokes quoting him as a 1/4 shot.

Speaking on BBC Tees Sport tonight, Gibson was giving nothing away as to the identity of his number one target, but admitted he would like to make the appointment before Saturday's Coca-Cola Championship trip to Preston.

Gibson said: "Once the decision had been made - and that was two or three weeks ago - about replacing Gareth, we needed to build a strategy and a timetable of implementation.

"In order to do that, we needed to be fair with Gareth, treat him with the respect he deserved, and the first step in that strategy was to remove Gareth from his duties. That's been done.

"I had made enquiries before I did that, and I told Gareth that. We had, as I said, a strategy and we started the implementation of that strategy.

"We are well on with it. I have been very busy today with it; tomorrow will be another busy day.

"I don't expect us to have somebody in place before the Preston game, but I do expect us to be able to make an announcement before the Preston game.

"Nothing is certain in football, but I am hopeful we will have an announcement before the weekend."

However, while Gibson did not rule out appointing another rookie manager, just as he did with Bryan Robson, Steve McClaren and Southgate, he admitted experience would be one of the main pre-requisites.

Gibson said: "When this situation happens, there's a lot of speculation and I am not going to narrow down that speculation in any way.

"I have employed three managers fresh: Bryan Robson brought us in a fantastic six years, and I hope he is remembered for that; Steve McClaren was the most successful manager in the club's history.

"The circumstances for Gareth were somewhat more difficult in a changing football world where it became more and more competitive.

"A period of Gareth's reign was quite successful, Steve McClaren was very successful, so I wouldn't rule out a rookie manager, but I suspect that's not the path I will be going down."

Former Boro midfielder Graeme Souness, Alan Curbishley and current Peterborough boss Darren Ferguson also feature in the betting, although Strachan's odds started short and have shortened further as the day has gone on.

Gibson revealed after wielding the axe shortly before midnight the decision to part company with Southgate in the aftermath of last night's 2-0 victory over Derby - the club's first in four attempts at the Riverside Stadium - had been the most difficult of his time in football.

That was a theme to which he returned this evening.

He said: "It was because he is such a decent man. He came into the boardroom at the end of the game beaming because of the result, which I understood.

"I was very happy that he had won the game and that he could go out with the club one point off the top, but the decision had been made prior to that.

"I sat down and I was absolutely honest with him. He took it as you would expect Gareth to, with good grace, he was very dignified and he wished me, he wished the club, he wished the town and he wished the supporters well.

"I sincerely hope with the passage of time over the next two or three months, that we see Gareth as a regular back at the Riverside because he is thought of with great warmth and affection."