Former Leicester City boss has talks with Aston Villa
The now-relegated Midlands club have made former Leicester boss Pearson their No.1 target after sacking Frenchman Remi Garde last month.
The 52-year-old, who steered the Foxes to promotion from the Championship two years ago, met Hollis last week to discuss how he can resurrect Villa's fortunes.
With owner Randy Learner who has only seen the team play twice in two years is desperate to sell the club – after losing £250million during his 10-year reign – Pearson has been reluctant to commit himself, should new investors want to bring in their own man.
But it is understood that progress has been made and that he believes he can rebuild a club that is deep in crisis.
Pearson was instrumental in building the side that now sits top of the Premier League and Villa will be keen to see if he can do a similar job for them.
David Moyes has also been touted for the job. However, the former Everton and Manchester United manager is reluctant to drop below the Premier League.