Simon Grayson could be appointed Sunderland manager as soon as Thursday evening.
The Preston North End boss is travelling Wearside this afternoon and is expected to agree to become the club's new manager.
Preston's squad were informed of his likely departure this morning as they reported for pre-season training.
Should Grayson take the job he will bring long-term assistant manager Glynn Snodin with him. Sunderland's former assistant manager Paul Bracewell recently left the club.
First team coach Steve Thompson could also join him on Wearside, although he has remained at Preston to oversee pre-season training.
Grayson was Bain's number one target should a proposed takeover not go through.
Ellis Short pulled out of talks after deciding that sale would not be in the best interests of the club.
The Black Cats are hoping for a swift resolution to allow Grayson to join the squad on their pre-season tour of Austria next week.
His first game would be against Bury next Friday at Gigg Lane.