Buckingham was surprisingly sacked by the U’s in the aftermath of their 3-1 defeat at home against Sheffield Wednesday.
The loss extended a sticky run of form for United, who have just one win in their last 15 Sky Bet Championship games, but thanks to a strong start, are still above the relegation zone.
The U’s said in a statement that there would be an appointment of a new head coach ‘in due course’.
But who are the early favourites among the bookies for the job?
READ ALSO: Des Buckingham sacking has left a very sour taste in the mouth
Ryan Lowe
According to BetVictor, former Bury, Plymouth Argyle and Preston North End boss Lowe is the early favourite, and is listed at 4/1.
His playing career took in a host of Football League clubs, before he stepped into management with Bury in May 2018, achieving promotion from League Two in his first season.
Lowe took over at Argyle the following June, and also guided the Pilgrims to promotion from League Two in 2020.
He switched to Preston in December 2021, but left the club by mutual consent after just one game of this season.
Mark Robins
More than seven years at Coventry City came to an end last month, when Robins was controversially sacked.
He guided the Sky Blues from League Two to a play-off final penalty shoot-out away from the Premier League.
The Sky Blues were beaten by Luton Town in the 2023 Championship play-off final, and last season, Robins took the team to the Emirates FA Cup semi-finals.
Former Chelsea and England midfielder Frank Lampard replaced Robins, who is 5/1 to replace Buckingham.
Michael Appleton
A United return for Appleton would probably be unlikely, with the 49-year-old in charge for almost three years.
He was a League Two promotion winner with the U’s in the 2015/16 season, and was a runner-up in two EFL Trophy finals.
He’s since taken charge at Lincoln City, Charlton Athletic and Blackpool, and is 12/1 for a United return.
Matt Bloomfield
The first (and only) manager on the list currently in a job, Bloomfield has certainly caught the eye at Wycombe Wanderers.
He spent almost 20 years as a player for the Chairboys and took over as manager in February 2023.
The Chairboys are currently top of League One, a point clear of Birmingham City, and Bloomfield is 12/1 to make the short journey across from Adams Park.
Steven Schumacher
Rounding off the list of the current top five favourites is former Plymouth and Stoke City boss Schumacher (14/1).
He was Lowe’s assistant at Argyle, before taking the top job when Lowe left for Preston.
The Pilgrims won the League One title under Schumacher in the 2022/23 season, and he switched to the Potters in December of last year, but was sacked two days after the 1-0 defeat against the U’s in September.