Claudio Ranieri is a leading contender to fill the managerial vacancy at Leeds United, with the Championship club determined to appoint an experienced, high-profile coach following the resignation of Garry Monk, sources have told ESPN FC.

Former Swansea City manager Monk announced his departure from Elland Road on Thursday after failing to agree a contract extension with the club's new owner, Andrea Radrizzani.

Monk, who narrowly failed to guide Leeds into the Championship playoffs this season, said in a statement: "After discussions with the new owner, we have unfortunately been unable to agree a suitable way for us to all move forward together."

While Radrizzani had been keen to give Monk a new contract as manager, sources have told ESPN FC that the Italian owner is pragmatic about his departure and now sees it as an opportunity to recruit a proven manager capable of leading the club back to the Premier League for the first time since relegation in 2004.

The three-time English champions are in no rush to make an appointment, with Radrizzani determined to consider a number of potential candidates.

Former Middlesbrough manager Aitor Karanka -- who left the Riverside Stadium in March, less than a year after guiding the club to promotion to the Premier League -- has been shortlisted as the bookmakers' favourite to replace Monk.

But sources have confirmed to ESPN FC that Radrizzani is hopeful of speaking to Ranieri to discuss the possibility of the former Leicester manager taking charge of one of English football's sleeping giants.

Ranieri, 65, has been out of the game since being sacked by Leicester in February.

The former Chelsea, Valencia, Juventus and Monaco coach earned global acclaim by guiding Leicester to the Premier League title in 2016, but he was dismissed following the team's slide into a relegation battle this season.