They have to decide whether to take a gamble on leaving McClaren at the helm, or to replace him with time running out fast in a season which will determine whether they receive a full share of the new £5.14billion broadcast deal next season.
David Moyes, Rafael Benitez and Nigel Pearson could head the list of potential candidates if they opt to sack McClaren, although it will not be lost on any incoming boss that Alan Shearer was handed a late rescue mission back in 2009 and could not pull it off. He had just eight games in which to find an escape route.
McClaren's position is complicated by the fact that he was the choice of Charnley, rather than owner Mike Ashley, and dismissing him now could be viewed as an admission of failure on his part, while an £82million recruitment programme, much of which was in place before the former England boss was appointed, has still left huge gaps in the squad.