Adams led Vale to 35 wins and 27 draws in his 81 games in charge
Port Vale will give Micky Adams an immediate return to management by offering him a three-year contract, BBC Radio Stoke understands.
Adams was sacked by Sheffield United on Tuesday, less than five months after quitting Vale for the Blades.
Vale assistant Geoff Horsfield said: "He'd grasp it with both hands, but there are other jobs available. He'll want time to get his head together."
Adams left Vale in second place in League Two but they finished 11th.
However he led his boyhood club to just four wins in 24 matches as they were relegated from the Championship.
Vale's season went downhill after Adams' departure. Former Stockport boss Jim Gannon replaced him but lasted just 75 days before being sacked, making him the shortest reigning manager in the club's history.
Youth-team coach Mark Grew and ex-Fulham, Birmingham and West Brom striker Horsfield took over in a caretaker capacity but the club finished outside the play-offs - and 15 points off the top three.
Horsfield understands why some fans believe that Adams has got unfinished business at Vale Park.
"People are going to put two and two together and assume that Micky will walk straight back," he said.
"I know Micky well and he'll be hurting, his heart will be broken because he is a Sheffield United fan through and through. He'll be hugely disappointed that he wasn't a success there."
Meanwhile, Vale defender Adam Yates and midfielder Doug Loft have signed two-year deals that they had previously agreed.
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