Lord Coe, chairman of the organising committee for the games, is attempting to persuade the United boss to take the reins in a bid for Olympic gold.
The proposal is said to intrigue Ferguson, who has won everything there is to be won in the domestic game, but it is said he is reluctant to commit while his priorities lay with Manchester United. However, with four years until the Summer games get underway, that may not be an issue and Lord Coe is confident an agreement can be made.
“Seb came up with the idea totally out of the blue and the more he thought about it, the more perfect the fit became” a source close to the discussions said.
“They have spoken about it on a couple of occasions. Sir Alex has said he is interested but he is understandably focused on Manchester United for the foreseeable future.”
Coe believes that the United boss is the one outstanding candidate for the post.
“It would be odd if Sir Alex was not uppermost in their thoughts given his credentials” a United spokesman said last night.
Many people are predicting that even though Ferguson has lost none of his desire or competitive edge, a second Champions League triumph may lead him to quit while at the very top.
That would then pave the way to take on the Olympic challenge.
Britain would qualify automatically as hosts and the matches will all be played at a packed out Wembley Stadium.