Hiddink was replaced as Holland coach by Danny Blind earlier this week and has now been installed as 4/1 second favourite for the Leicester vacancy, amid reports the club have launched an ambitious approach.
The Foxes are seeking a new manager after calling time on Pearson’s reign on Tuesday due to “fundamental differences in perspective” between him and the board.
The club’s director of football Jon Rudkin is believed to favour a move for Bolton boss Neil Lennon – the current bookmakers’ favourite for the job – but reports in the Leicester Mercury on Thursday suggest they have set their sights even higher.
Chairman Vichai Srivaddhanaprabha has reportedly contacted Hiddink’s agent to discuss whether the vacancy would appeal to the 68-year-old Dutchman.
Hiddink is thought to be considering his options, with retirement one possibility, but Leicester have sounded him out as the high-profile figure they want to install in Pearson’s place. And the Foxes believe he could help repair the club’s image in the Far East following the sex tape scandal which involved three Leicester youth players.
The Thai owners of Leicester have previous when it comes to hiring high-profile managers having appointed Sven-Goran Eriksson in 2010, but the appointment of former Real Madrid an Chelsea coach would be their biggest coup yet.
The club’s hierarchy are not afraid to hide their ambitions and have set their targets on a top-half finish with a long-term focus on qualifying for European football.