The Irish need a new manager following the departures in midweek of Martin O’Neill and Roy Keane. McCarthy, who led the Republic to the last 16 of the 2002 World Cup, has been widely tipped to fill the vacancy.
Kenny’s involvement comes as a surprise, though. It is believed he will be put in charge of the Under-21 side and then move into the senior post in a couple of years.
Kenny, 47, has led Dundalk to four League of Ireland titles in the last five seasons.