Reports say that the former left-back, current no.2 to Paul Merson at the Saddlers, held talks with the Football Association of Ireland over the weekend.
Former England and Newcastle boss Sir Bobby Robson is believed to be reddy to act as his mentor.
Ireland have been without a manager since they sacked Brian Kerr for failing to guide them to this summer's World Cup finals.
Former England and Newcastle boss Sir Bobby Robson is believed to be reddy to act as his mentor.
Ireland have been without a manager since they sacked Brian Kerr for failing to guide them to this summer's World Cup finals.
If confirmed as manager, Staunton's first game in charge will be a friendly against Sweden on Wednesday March 1.
Staunton made 102 appearances for Ireland, captaining them 16 times, to become their most capped player.