Manuel Pellegrini has been installed as the hot favourite to replace Juande Ramos if Florentino Perez wins the presidential elections.

According to AS, Pellegrini was considered to lack star power, but Perez's associate, Jorge Valdano, championed the Chilean as the new Arsene Wenger.

Valdano has already had discussions on the topic of a new head coach with Perez, trying to win him over with the virtues of Pellegrini.

Perez is desperate to lure Wenger away from Arsenal, but he knows that the Frenchman is keen to stay in north London.

Pellegrini has been touted as Wenger's replacement in Perez's faction. Meanwhile, the press have speculated that many star coaches may be tempted by the challenge of waking the slumbering giant. Jose Mourinho, Carlo Ancelotti and Michael Laudrup have been named as potential successors, but none of them seem to be interested in the role.

Perez wants to the coaching seat filled before the election so that he can use the name to promote his ideals for the club.