London 2012 supremo Lord Coe is the front-runner to replace Lord Patten at the top of the BBC Trust, according to reports.
The former Olympic champion, who sits in the House of Lords as a Conservative peer and was an MP for five years, is said to have the support of the Government to take up the role.
ITV News political editor Tom Bradby reported: " I have been told this lunchtime by a senior Government source that Sebastian Coe is now the clear front runner to be the next chair of the BBC Trust.
"There are a few hurdles left to clear and obstacles that can be placed in his way, but I am told he is interested and that he enjoys the firm support of the Prime Minister and the Chancellor. Given that this is basically a Number 10 appointment, that should more or less settle it."
Other names mentioned in relation to the role at the BBC's governing body include D ame Marjorie Scardino, the former chief executive of the company behind the Financial Times, and Channel 4 chairman Lord Burns.
L ord Patten stood down in May for health reasons after a turbulent three years in the job.
The former Cabinet minister's stint at the top of the BBC's governing body, which started in 2011 and was due to end next April, has seen him work with three different director-generals and weather scandals including excessive executive pay and the corporation's disastrous Diamond Jubilee coverage.
Lord Patten, who had heart surgery seven years ago, said he stepped down "on the advice of my doctors".
Former BBC executive Roger Mosey, who masterminded the corporation's Olympics coverage, welcomed the news but repeated his call for reform of the trust.
Mr Mosey , whose career at the BBC included stints as editor of the Today programme, controller of Radio 5 Live and head of television news, said: " Seb Coe would be a great choice as BBC chairman. But the Trust role as now constituted is undoable: can't be both regulator and cheerleader."