FIGC President Carlo Tavecchio revealed the choices for the Italy bench: Carlo Ancelotti, Antonio Conte, Max Allegri, Claudio Ranieri and Roberto Mancini.
The Azzurri missed out on the World Cup for the first time since 1958 after a 1-0 aggregate play-off defeat to Sweden.
This cost Coach Giampiero Ventura his job and, as Tavecchio is refusing to step down, he will be tasked with choosing a replacement.
“At the moment everyone has contractual obligations until June. These are multi-million pound deals, we can’t just pay the release clauses,” Tavecchio told Le Iene.
“We are looking for the best. Clearly, when I say that, I mean whether it’s Ancelotti, or Conte, or Allegri, or Ranieri, or someone else like Mancini, this is the list of options.”
Ancelotti was fired by Bayern Munich, but is under contract until June 2018.
Conte could be open to a return after leaving for Chelsea in the wake of Euro 2016, while Allegri is at Juventus, Mancini only recently signed for Zenit and Ranieri impressed at FC Nantes.
Tavecchio is facing strong pressure to resign, but defended his work at the helm of the Federation.
“I reflected carefully and I intend to continue the project we were putting in place. The project of Club Italia didn’t work only in terms of results.
“Who brought VAR to Italy before anywhere else? Who gave Italy four teams in the Champions League? Tavecchio, that’s who!
“You want me to say I will resign, but I will not resign! Why should I resign if my project is approved by the Federal Commission?”