Fulham boss Roy Hodgson is the strong favourite to become the next manager of Liverpool, BBC Sport understands.

An announcement is not expected over the weekend, unless developments progress rapidly over the coming days.

The Reds are still exploring options as they search for a successor to Spaniard Rafael Benitez, whose six-year reign ended earlier this month.

Former Liverpool boss and Anfield legend Kenny Dalglish is not in the running to take over.

Hodgson has remained tight-lipped over rumours linking him with the vacant Liverpool job.

"I'm Fulham manager. I'm perfectly happy at Fulham," the BBC World Cup pundit told presenter Gary Lineker in Cape Town recently. "There's a lot of speculation but I can't enlighten you."

After six years in charge, Benitez left Liverpool by mutual consent and has since joined Champions League winners Inter Milan.

The hugely experienced Hodgson has been in charge of Fulham since December 2007, signing a new 12-month rolling contract in December 2009.

Although he suffered a difficult start to his tenure - winning only nine points from his first 13 league matches - he saved the club from relegation that season, securing survival on the final day of the campaign.

The following season he steered the club to seventh place in the Premier League in 2009 - their highest finish - and a place in the Europa League.

The 62-year-old's achievement in guiding Fulham to the final of that competition last season - beating Juventus and Wolfsburg on route - saw him named manager of the year by the League Manager's Association.

Among the previous clubs Hodgson has managed are Italian giants Inter Milan and Blackburn, while he has also taken charge of Switzerland, who he guided to the last 16 of the 1994 World Cup.

Aston Villa boss Martin O'Neill, former Real Madrid coach Manuel Pellegrini, ex-Chelsea boss Guus Hiddink, Croatia coach Slaven Bilic and former Manchester City manager Mark Hughes have all been linked with the Liverpool post.