Panathinaikos manager Yiannis Anastasiou is being backed by the board, however the Greens are considering several options for the man in charge.
Anastasiou will remain as Panathinaikos manager as the club's president Yiannis alafouzos has taken the decision to continue with him in charge.
Nevertheless, several managers have been checked by the Greens as they do not know what the future lies ahead.
At the time being Anastasiou's job seems to be safe, however if the bad results continue he may be sacked.
Goal newspaper reports that managers from Portugal and Germany have already been shortlisted.