Nantes president Waldemar Kita has indicated that former Arsenal captain Patrick Vieira is on the club's radar as they look for a new coach.
The Italian was exclusively appointed again in June of final 12 months however will depart the membership after only one marketing campaign in cost.
Despite his contract's being set to run for another year, Claudio Ranieri, 66, will not be Nantes' coach next season.
In a statement released by Nantes, Kita thanked Ranieri and his staff for "all the work done this season".
He will begin the search for a new job after his final game in charge this Saturday and could find himself contemplating a return to English football with Everton and West Ham both looking for their next managers.
After challenging for European qualification this season, Nantes has been in poor form in recent weeks, winning just one of its past eight league matches.
Ranieri, who masterminded Leicester's extraordinary Premier League triumph again in 2016, had been linked to the vacant Italy submit earlier than Roberto Mancini was named Gian Piero Ventura's new long-term successor on Monday.
On his Nantes exit, Ranieri said: "I want to thank the president because he allowed me to come to Nantes, to go back to France and Ligue 1".
The Italian, who led Leicester City to the Premier League title two years ago, only took charge of the French side last June on a two-year deal.
"I want to thank my players because the first half of the championship was wonderful, although the second part was more hard", Ranieri said.
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