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Speed made 85 Wales appearances - a record for an outfield player.
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Sheffield United are set to name Gary Speed as their new manager, BBC Radio Sheffield understands.
The 40-year-old is understood to have been offered the position and is meeting club chairman Kevin McCabe and chief executive Trevor Birch in Spain.
The former Wales international served as first-team coach alongside ex-Blades manager Kevin Blackwell who left the club after Saturday's 3-0 loss to QPR.
Speed retired from playing last season to take up his role at Bramall Lane.
Sheffield United blocked Championship rivals Swansea City's approach for the former Premier League midfielder, who has completed his Uefa Pro Licence, about their then vacant managerial role in July.
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Capt'nBlade
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Speed has often mentioned his desire to move into football management and following Blackwell's departure the Welshman's name has been near the top of the list of candidates to take over the Blades.
The South Yorkshire side currently lie 21st in the Championship table following the defeat by QPR and an opening day draw away at Cardiff.
On Wednesday they were dumped out of the Carling Cup by League One side Hartlepool.
Speed enjoyed a distinguished career in English football's top flight during an 18-year career with Leeds United, Everton, Newcastle United and Bolton Wanderers.
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