At the start of this year, Scholes took youth training sessions at Oldham as part of work towards his Uefa A coaching licence.
The League One club declined to comment on reports linking Scholes with the vacancy created when John Sheridan was sacked last month.
Now the 4/5 favourite could now be on the verge of leaping into the managerial arena with the club he's supported since a boy.
Oldham have also spoken to Clarence Seedorf about the manager's job, although the former Netherlands global is now out of the running.
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Another former United midfielder, Richie Wellens, is now interim manager and has spoken of his desire to take on the role full time having won all three matches in charge.
However their fortunes have turned under interim manager Richie Wellens, with three wins (two in the league).
Scholes won 11 Premier League titles, three FA Cups, two League Cups, five Community Shields and two Champions Leagues.
Over the years a flurry of Scholes' former Man Utd teammates have made the voyage into management, with varying degrees of success, including the likes of Roy Keane, Gary Neville, Laurent Blanc, Mark Hughes, Teddy Sheringham, and Ole Gunnar Solskjaer.