Kilmarnock closing in on new manager
Paatelainen and Gary Holt are said to be on a long list of interviewees for the position vacated by Lee McCulloch last weekend.
Former Falkirk boss Holt has made no secret of his desire to manage his boyhood heroes, having helped them to Scottish Cup glory in 1997 during his playing days.
Paatelainen enjoyed a successful spell at Rugby Park before leaving to take over as Finland manager in 2011.
A statement from the Kilmarnock board read: “Since Lee McCulloch’s departure, the club has received over 50 applications and we have been impressed by the calibre of those expressing an interest in the position.
“The board appreciates the time and effort taken to express these notes of interest and will give due consideration to all applications.
“The process to identify a new manager is well under way and the club intends to provide a further update next week.”
Another of Killie’s 1997 heroes, Jim McIntyre, is also a strong candidate after leading Ross County to League Cup success before losing his job in Dingwall late last month.