While Sexstone would not be drawn on naming potential candidates, he has ruled out the possibility of appointing ex-West Ham boss Gianfranco Zola and City goalkeeper David James, who were both rumoured to be interested.
"We've had over 60 applications now and had a thorough look at them all. We've now interviewed five people who all brought different skills and there's still a few applications coming in now," said Sexstone.
“We are going as quickly as we can but it's far more important that we get this right”
Bristol City chairman Colin Sexstone
"The majority are out of work but that's not a pre-requisite by any means.
"I've seen Zola's name attached but I don't think he's applied and David James didn't apply. I haven't looked too much at the speculation as there's all sorts of names about."
He added: "We are going as quickly as we can but it's far more important that we get this right. We don't want any knee-jerk reactions and want to make sure we've looked at all possibilities.
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