Saints have now been officially relegated from the Premier League after a shambolic campaign marked by poor decisions by the club’s owners.
Ruben Selles is not expected to stay on as manager and Southampton are already looking at who can come in to manage them in the Championship.
Saints have already put two managers on their radar in the shape of Martin and Schumacher.
Southampton’s incoming director of football Jason Wilcox is expected to want a big say in the matter of the appointment.
The club are now set to suffer a huge slash in their income due to relegation, which could complicate their expected rebuild.
They could also receive approaches for a number of their top players as clubs look to take advantage of their relegation.
Southampton’s Premier League stay was ended by Fulham on Saturday, with the Cottagers grabbing a 2-0 win despite having nothing to play for.