http://news.bbc.co.uk/sport1/hi/football/eng_div_1/8442546.stmDarren Ferguson is set to take over as manager of Championship side Preston North End, BBC Sport understands.
The 37-year-old, who was also thought to have been interviewed by Sheffield Wednesday, spoke to the Preston board on Sunday and has accepted their offer.
Ferguson left Peterborough by mutual consent in November with the club bottom of the Championship.
The Scot, son of Manchester United boss Sir Alex, will replace Alan Irvine, who was relieved of his duties last week.
Preston chairman Derek Shaw is known to be an admirer of Ferguson and previously suggested he could be an an ideal candidate.
"Darren Ferguson did a fantastic job at Peterborough so he's obviously in the frame," said Shaw a week ago.
"We would be foolish not to consider him but there are several quality candidates out there."
Following Irvine's dismissal, BBC Sport understands Preston interviewed five potential candidates before settling on Ferguson, who secured back-to-back promotions in his two years in charge of Peterborough.
Ferguson won 73 of his 145 games in charge at London Road.
Geoff Ollerton, chairman of Preston supporters group, admitted the move to appoint Ferguson was unexpected.
"I'm a bit surprised at the appointment but yes why not give him a chance," he told BBC Radio 5 live.
"He has a lot to live up to but hopefully we might get two for the price of one with a little bit of help from his Dad."
Reading expressed an interest in the Scot in the summer but he signed a new four-year contract at Peterborough in July after he was refused permission to speak to the Royals.
Since leaving Peterborough, Ferguson has been linked with several managerial posts including the vacancy at Sheffield Wednesday.
He was also thought to be in the frame to replace Owen Coyle at Burnley when the Clarets boss completes his move to Bolton.
Former Chelsea and Celtic midfielder Craig Burley played with Ferguson in the Scotland Under-21 team and he backed Preston's decision to give a young manager a chance.
"While he has not got the greatest amount of experience he has a fair amount with two back-to-back promotions at Peterborough," Burley told BBC Radio 5 live.
"This might just be a great opportunity for him. I'm sure if he goes to Manchester United for one or two young players his Dad might help him out a bit as well.
"There will be some fresh ideas there, obviously he will have learned a lot from his father as well."
A step in the right direction for young Fergie
