Charlton have received more than 40 applications for their managerial vacancy.

Since parting company with Alan Pardew a week ago, the club have been inundated by what one insider described as “high quality” applicants.

Former Bolton and Newcastle boss Sam Allardyce is thought to be among them.

But the board are known to favour caretaker Phil Parkinson who looks certain to be given until Christmas to try and turn the club’s fortunes around.

In a frank and brutal assessment of Pardew’s reign this season, football club chairman Richard Murray confessed that directors were left with no option but to part company with the man they appointed on Christmas Eve, 2006.

He said: “We examined the whole situation. Given that we are in a results driven business, the statistics showed that we had only picked up three points from the last 24 available and our position in the league could not be ignored.

“It was not a decision we took lightly and while Charlton is a club that will always listen to supporters, we will make decisions in the best interests of the long-term future of the club rather than respond to knee-jerk reactions following bad defeats.”

Charlton will have to find more than £1 million to pay off the remainder of Pardew’s contract which had another year to run.

This is certain to restrict any spending in the January transfer window.

For Saturday’s goalless home draw against Southampton, Parkinson named five loan signings in his starting 11.

Midfielder Therry Racon is doubtful for Saturday’s trip to Blackpool with a recurrence of a knee injury sustained in the midweek 2-1 defeat away to Queens Park Rangers where he scored his first goal for the club.