New favourite to replace Gareth Southgate as England manager emerges after Spain defeat

A new favourite to replace Gareth Southgate as England manager has emerged just hours after the Euro 2024 final.

England suffered yet more major tournament heartbreak on Sunday as they lost 2-1 to Spain in the final of Euro 2024.

Cole Palmer cancelled out Nico Williams' opener with a brilliant strike, but Mikel Oyarzabal tapped home from close range in the 86th minute to condemn England to defeat.

Gareth Southgate's side were looking to end England's 58-year wait to win a men's major tournament, but ultimately they didn't deserve to.

The Three Lions were second best at Berlin's Olympiastadion, as was the case for much of the tournament.

Southgate has been widely criticised for the way he used his talented squad, especially given the fact he had at his disposal the best player in the Premier League, Bundesliga and La Liga.

Southgate's current contract is valid until the end of the year, but even before Sunday's final, he said that he will make a quick decision on his future.

England's players have publicly shared their desire for him to stay, but there is a feeling among many fans and pundits that the 53-year-old's tactical and coaching ability is not up to the standard of this squad.

According to some journalists, Southgate is likely to step down after eight years in the job.

That raises the question: Who will replace him?

Gareth Southgate's time as England boss could be over. (Getty)

Betfair have made former Brighton and Chelsea manager Graham Potter the new favourite to replace Southgate, cutting his odds to 1/1.

The 49-year-old has been out of work since he was sacked by Chelsea April 2023 after just 31 games in charge. Sky Bet also have him at evens to be the next England manager.

Betfair's second favourite for the job - via Oddschecker - is another former Chelsea manager. They are offering odds of 5/2 on Argentine coach Mauricio Pochettino taking over the reins.

Newcastle boss Eddie Howe was the favourite for the England job, but he is now 7/2.

Pep Guardiola is the surprise fourth favourite at 15/2, followed by England under-21s boss Lee Carsley at 9/1 and former Liverpool coach Jurgen Klopp at 14/1.