Ex-Tottenham coach Martin Jol has emerged as the favourite to succeed Huub Stevens at Hamburg.
The Rothosen confirmed they held talks with the 52-year-old Dutchman ahead of Wednesday's derby loss at home to Werder Bremen.
But a final decision on a contract offer can only be made next week after the board gives its final approval.
"We will make a decision on the whole package next Tuesday," board chairman Horst Becker told Hamburger Morgenpost.
German media reports claim that Hamburg are set to offer Jol a two-year deal worth 2million euros per-year.
Jol has been linked to a number of jobs since leaving White Hart Lane last year but he could be tempted by the move to Germany.
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