<font size="2">MK Dons boss Martin Allen is set to get the nod ahead of Neil Warnock to take over as Leicester City's new manager. </font> Leicester chairman Milan Mandaric revealed Warnock, who left Sheffield United after they were relegated, was on a four-man shortlist. </p> But BBC Radio Five Live reports that Allen has now been approached to take over at the Walkers Stadium. </p> Allen, 41, guided MK Dons to the League Two play-offs, where they lost in the semi-final to Shrewsbury. </p> He is set to agree a three-year deal with Mandaric and may take coaches Dave Hockaday and Adrian Whitbread with him from MK Dons to Leicester. </p> Allen has only spent one season at MK Dons but had already built a reputation as one of the game's brightest young managers when he was at Brentford. </p> <table cellspacing="0" cellpadding="0" width="208" align="right" border="0"><tbody><tr><td style="width: 5px"></td><td class="sib606"><div class="sihf">606: DEBATE </div><div class="ibqlinks">Who should Mandaric go for? </div></td></tr></tbody></table></p> The news will come as a disappointment to Warnock, who would have been hoping to make a swift return after his departure from Bramall Lane. </p> Mandaric recently told the Leicester Mercury: "Neil Warnock is a good and experienced manager and may be under consideration. </p> "But he is only one of several on the list I will be considering. As it is such an important decision, I will not be rushed. </p> "I have had no dialogue with him or anyone else." </p> Nigel Worthington took over as caretaker manager of the Foxes in April after the departure of Rob Kelly. </p> He helped steer the club away from relegation and was also on the shortlist - but also looks to have lost out to Allen. </p>