It was suggested that Mandaric had devised a list of five names of interest for the position, including current caretaker manager Nigel Worthington. Other speculated names include former Fulham boss Chris Coleman and Paul ince.
However, Mandaric is in no rush to make the appointment until he feels he is confident that he has found the right man for the job.
Talking to the Leciester Mercury, The Foxes owner said: 'Neil Warnock is a good and experienced manager and could be under consideration, but he is only one of several names on my list I will be considering... As it is such an important decision, I will not be rushed.'
Warnock quit as Sheffield United manager after eight years in the job when his side were relegated back into the Championship on Sunday. And, the 58 year old was quick to state that his career was far from finished.
'I look forward to one more challenge in my career.' Warnock told one national newspaper.