Pearson said that he had three or four people in mind to take over as City manager, but Molby is now the number 1 target.
He said: "It's probably unlikely that Molby will take charge before next Saturday's game against Luton.
"I have met him and we'll sit down and talk business next week regarding a contract.
"He is certainly up there as the favourite now that he has resigned and it could happen, but it is more likely to be later on.
"He has put himself out on the market with resigning and it's an option for us."
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