The meeting which is understood to have started at 10am has so far lasted over four hours.
Sam Allardyce is believed to have faced a comprehensive grilling on a number of aspects of the current season together with his potential plans for the coming season.
The meeting is scheduled to finish late this afternoon with an announcement shortly afterwards.
A source said: “Obviously we have to await clearance before issuing a statement but the hope is that an announcement will be made before the end of the day.
As soon as we receive credible information as to the outcome of the meeting we will post it here on Claret and Hugh.