Southend deputy chairman Geoffrey King said: "We haven't made any decision regarding the management of the club, but we are in talks with Stan Collymore, although it's early days."
Frank Clark sold Stan The Man to Liverpool for a then record £8.5m but he never lived up to his undoubted ability, arguably because of his temperamental behaviour.
Collymore has recently tried to make a comeback to English football but many clubs and managers have been put off. Allegedly he wanted to cover his comeback as a 'reality tv documentary'.
Southend are currently bottom of Division Three.