Liverpool boss Brendan Rodgers has insisted Mario Balotelli will not be going out on loan in the January transfer window.
The Highland club are seeking a replacement for Terry Butcher, following his move to Scottish Premiership rivals Hibernian.
Caley Thistle chiefs have now drawn up a short-list of candidates and are aiming to announce Butcher's successor before their William Hill Scottish Cup tie against Morton on November 30.
Chairman Kenny Cameron told the club's website: "The board has, after careful consideration of a huge inflow of applications, decided on a short-list for the managerial vacancy.
"We're very grateful to all who applied for showing such interest.
"We are now proceeding to interview the candidates.
"It is our hope that we will make the appointment before the Scottish Cup tie with Morton on Saturday week."