Newcastle United's pursuit of Steve McClaren looked dead in the water just two weeks ago - but the ex-England boss could become available imminently after bookies slashed the odds on Paul Clement replacing him as Derby County boss. McClarens refusal to take over at the Magpies for the final three games of the season made it appear likely that he would remain at the iPro Stadium, but speculation is mounting that Derby will part company with their boss. And the man whose odds are now in as short as 1-2 with Bet Victor to be the next Derby boss is Real Madrid assistant manager Clement, who has been strongly linked with the Newcastle job too. Clement has been Carlo Ancelottis assistant at Real since the Italian took charge in June 2013 and he helped the club claim the Champions League title last season. However, the 43-year-old is expected to leave his post in the Spanish capital this summer in order to pursue a career in management, with Mike Ashley and Lee Charnley believed to be considering Clements credentials - yet Derby may beat them to his signature. The Rams could part company with McClaren, who had been linked to the Newcastle job ever since Alan Pardew left for Crystal Palace at the turn of the year before committing himself to Derby just two weeks ago. The former FC Twente, Wolfsburg and Middlesbrough manager had looked set to take Derby up automatically just a few months ago yet the Rams' form nosedived and they failed to even claim a play-off spot. If Derby do part company with McClaren, the fact the ex-England boss had become available may tempt Newcastle into action - particularly if they are relegated to the Championship on Sunday. Could Clement's potential availability make McClaren a possibility for the permanent Magpies hotseat once more? For all the latest NUFC News, Views and Transfers make sure to follow WhatCultureNUFC on Twitter and Facebook.