After a torrid season for Peterborough that has seen them sink into the relegation places, both the club and manager Darren Ferguson decided to part ways at the weekend.

The side have lost in four of their last five games in the Championship and also have the worst away record in the entire division, winning just once in 16 fixtures on the road. It's the kind of form that has now seen them fall to 23rd, with Derby now above them on goal difference.

That's despite the Rams suffering a points deduction and after losing to the Pride Park outfit at the weekend, it was the final straw for both club and manager with Ferguson resigning from his post.

Posh are now five points from safety but do have a game in hand on Reading and Derby - and they'll need to appoint a new manager quickly to help them try and climb to safety. Who though, should the side be considering?

1. Mark Bonner - Cambridge United

The first choice on the list is somewhat of a gamble but presents a potentially exciting opportunity for the manager and Posh if the appointment works.

Bonner has worked wonders at Cambridge United and deserves a chance to manage higher up the football pyramid. The Championship isn't an easy league to manage in and coming into a team like Posh, in their current situation, as your first role would certainly be difficult.

However, Bonner is an exciting manager and given time he could transform the fortunes of Peterborough as he has done at his current side. Giving younger and more exciting managers a chance higher up can often pay off but there is also the risk that it could backfire.

Peterborough have to consider if they want to take the gamble then - do they pay a compensation fee but bring in a manager with little second tier experience or do they look elsewhere for someone with more knowledge? That doesn't always bring results though and Bonner could breathe fresh life into a side that really does need it.

2. Neil Warnock - Without a Club

The next name on the list is the complete opposite of Mark Bonner. Warnock has been there and done that in the Championship and only recently managed to steer Middlesbrough in the right direction before leaving to pave way for the appointment of Chris Wilder.

The boss has years and years worth of second tier knowhow and certainly has the ability to lead a team away from relegation. Having led teams to promotion at the other end of the table and come in and achieved plenty of good results at other teams too, he could be ideal for Peterborough.

Posh's main aim right now is to ensure they get at least another season in the Championship. If any manager currently on the market can help them do that, it's Neil Warnock.

While he might not be a long-term appointment - he never gets much chance now - and he might also be eyeing retirement, Warnock could certainly jump at the chance for another crack at the league he has spent so much time managing in.

3. Jonathan Woodgate - Without a club

The former player's last two clubs have been in a lot better position than Peterborough currently are - he's been with both Bournemouth and Middlesbrough - but he might enjoy the chance to get back into management again even if it is with Posh.

Again, Woodgate is not the most experienced name they could go for. He has no experience of leading a team out of the relegation spots and digging in during difficult circumstances. However, what he has done is secure a play-off spot much higher up the table for the Cherries in the past.

It shows that Woodgate can work under pressure and get results when it counts. Considering his age and the philosophies he could bring in, he and Posh could be a good match as they look to kick on and try and establish themselves in the Championship. Ferguson got them out of League One but they need a manager who can keep them in the second tier and Woodgate would be determined to help them out and prove he can do it in the process.

The issue is mainly whether they would get the Middlesbrough Woodgate that won only nine games and was sacked - which they really don't want or need - or the Bournemouth Woodgate that had a solid record and bagged them a play-off spot.