Ferguson is expected to be unveiled as the League One club's new manager on Friday and compensation talks were reported to be taking place between the clubs on Thursday night for Strachan's services.
Strachan, appointed as head coach at the New Manor Ground in May, pictured, as the successor to Kevin Wilson, worked successfully with Sir Alex Ferguson's son at Peterborough United before his second spell as Posh boss ended in February.
News of Strachan's possible departure is spreading like wildfire on social media with forum pundits backing emerging reports in the media that former Scotland number two Andy Watson could take charge.
Watson was appointed by Strachan in June soon after the Premier Division club returned for pre-season training.
Ilkeston, sitting comfortably in the top half of the table with five wins and five draws so far under Strachan's guidance, are at home to Buxton in the top flight on Saturday.
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