As Peter Taylor reflected last night on his annus horribilis and on being an out-of-work manager, Leicester City were already making plans for the future by lining up Harry Redknapp to take the vacant post.

Although Leicester's plc chairman Sir Rodney Walker is anxious to keep the negotiations out of the public eye, detailed talks have already been held with Redknapp, the former West Ham manager, who has been informed he is the board's first choice.

Having confessed to being "bored" by his role as director of football at Portsmouth, Redknapp conceded the job would be a "good chance" to re-establish himself in management.

"A return to the Premiership is a very tempting proposition, so I have to say I am interested," he said. "When I left West Ham I honestly thought I'd had enough of management but after a few weeks you begin to realise what you are missing and it is difficult to keep away."

Privately there is some concern within the Filbert Street boardroom that Redknapp has been quoted so frequently in recent weeks offering his analysis of Taylor's position and whether he would be tempted by the job. Nonetheless he heads a shortlist that includes George Graham, Wim Jansen and Gordon Strachan.

Graham's chances are clouded by his legal dispute with Tottenham, while Jansen has turned down higher profile jobs than Leicester since leaving Celtic. Strachan would not comment but has let it be known that, three weeks after his sacking by Coventry, he would relish a return to the game.

Alternatively, if the discussions with Redknapp do not have a positive outcome, Leicester may go for an up-and-coming manager such as Preston's David Moyes or Gary Megson of West Brom.

Yet Redknapp has made it clear he wants the job and Milan Mandaric, Portsmouth's chairman, will allow him to leave. "I will be very sad if Harry goes," he said. "However, if there is something else out there for him, I would not stand in his way." Taylor described himself as "frustrated rather than angry" that only a year since taking Leicester to the Premiership's summit, and 11 months since his brief role as England's caretaker manager, his 15-month tenure had been ended.

"It's been a tough year but that's what can happen in the life of a football manager," he said. "I certainly haven't lost confidence in my ability and I intend to prove Leicester wrong.

"It hasn't come as that much of a surprise but, call me biased or blinkered, I think they are letting a good man go. I had the players' support and I would have turned things around."

A club spokesman said Taylor had accepted the decision with "understanding and dignity," but it was clear the former England Under-21 coach felt let down.

"There were rumours flying about that I did not have much longer and the players were going into every game with too much pressure on them, knowing it could be my last match in charge," he said. "It didn't help. The board should have tried to put a stop to it by showing they supported me."

Taylor said he had received a "sympathetic" phone call from Sven-Goran Eriksson, but that he was unlikely to return to the England set-up and would prefer another club job.

In the meantime a period of uncertainty awaits. "I'm a bit anxious," said the midfielder Robbie Savage, who earlier this season visited Elsom to ask that Taylor be given more time.

Meanwhile, Rangers' American midfielder, Claudio Reyna, yesterday spoke of his disgust after an opposition fan was caught on camera apparently mimicking an aeroplane during Sunday's Old Firm derby.

Reyna, who is from New Jersey, said he was sickened by the Celtic supporter's actions which came less than three weeks after the terrorist attacks on New York and Washington.

Celtic are investigating the incident, which happened during the Scottish Premier League clash at Ibrox as Reyna prepared to take a corner. A spokeswoman for Celtic said the club would try to find the fan.

She said: "It is absolutely intolerable and unacceptable behaviour and we will investigate to find the individual concerned."