EXCLUSIVE By Editor Wayne Veysey| Former Evening Standard, Press Association and Goal chief correspondent with 17 years experience of breaking big stories, including exclusives like this

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Fulham’s bid to appoint Slavisa Jokanovic as their new manager has hit a snag, Football Insider sources understand.

Jokanovic has held advanced talks with Fulham over the vacant post and had agreed personal terms but a deal is not close due to the cost of the compensation package required to free him from his Maccabi Tel-Aviv contract.

Reports in Israel have claimed that a compensation deal worth £250,000 has been agreed in the last 24 hours between the two clubs but that is not the case.

A senior Fulham source has told Football Insider that the London club are no longer as confident as they were that Jokanovic will be their next manager.

The plan at the start of the week had been to install Jokanovic as boss in time for him to take charge over the festive period. But there is a feeling among senior officials that the deal could now be on the verge of collapse.

As revealed by Football Insider a fortnight ago, the Championship club have taken the precaution of lining up Tony Mowbray as a back-up candidate and they may now turn to the 52-year-old Coventry manager.

Fulham chiefs have spent two months trying to find a permanent replacement for Kit Symons although they appointed Stuart Gray as caretaker manager earlier this month.

Money man: Shahid Khan has spent two months hunting for a new manager

Money man: Shahid Khan has spent two months hunting for a new manager

A deal was agreed in which Gray will stay on as a coach at Craven Cottage and work alongside the new manager if he did not land the manager’s job on a full-time basis.

Jokanovic is highly regarded by Fulham because he guided Watford to Premier League promotion last season and his stock is still very high in England. He would also like the chance to work in this country again.

Fulham have already held talks with a number of managers but suffered a series of setbacks as discussions with Steve Clarke, Gary Rowett, Nigel Pearson and Mark Warburton all collapsed.

Fulham owner Shahid Khan is keen to appoint a head coach who can work under transfer chief Mike Rigg.