"We have a shortlist of three managers who are all currently working in Division Two or Division Three and have a good track record in lower division management coupled with illustrious careers as footballers themselves.
"These three candidates will sit alongside Billy Russell in the shortlist for the vacant managers job.
"I will be seeking permission from the three respective clubs to talk to the three candidates over the next couple of weeks with a view to having the right person in place by the end of the season."
This appears to rule out Ray Graydon, currently unemployed after being sacked by Walsall earlier in the season.
With Rotherham manager Ronnie Moore and Leicester assistant Micky Adams thought to be the favourites, there is still another one that Pearson is looking at after confirming there are three main candidates.
Kidderminster boss Jan Molby could be the man in the running. The former Danish international midfielder and member of Liverpool's double-winning team of 1992 took the Harriers to promotion two years ago. After finishing 16th last season, they have faired better this time around, currently two points behind us with a game in hand.
Other names being mentioned are Steve Cotterill of Cheltenham, Scunthorpe's Brian Laws, Shrewsbury's Kevin Ratcliffe, and of course City's caretaker manager Billy Russell depending on his performance over the next two months.