Top contender to replace Karl Stefanovic on Today revealed as industry insiders eye Brenton Ragless to 'freshen up' the breakfast show

The Today Show could soon be welcoming a familiar face to take the seat left empty by the abrupt departure of Karl Stefanovic. 

Brenton Ragless, a favourite over at Nine's South Australian branch, has emerged as a 'hot favourite' to step into the role, as the network scrambles to find a suitable replacement. 

Ragless is understood to have been previously eyed by Nine to step up at Today when Stefanovic was axed back in 2018, only to return in 2020. 

The television host has also filled in on Today while Karl was on leave in the past, including in 2018 and 2019. 

He is now being touted as the ideal candidate to step into the position permanently, The Australian reported on Tuesday. 

'He could be a chance to freshen up and bring a whole new energy,' one industry expert told the publication. 

Bringing in Ragless may give Today a chance to close the ratings gap with Seven's rival breakfast show Sunrise.  

'If Today are rejigging their whole line up they might have the chance of finally closing the gap or overtaking Sunrise,' the expert said.

Ragless would join Today co-host, Sarah Abo, with Nine executives 'impressed' by the TV star and enthused by his potential to shake up the troubled show.  

Abo's position at the network is also under scrutiny, with Channel Seven reportedly preparing a bold move for the Today co-host just days after Stefanovic's dramatic departure plunged Nine into crisis.

As Nine scrambles to rebuild its flagship breakfast show following Stefanovic's exit, rival executives are already eyeing one of the network's biggest remaining stars.

Seven is preparing to make a play for Abo when her contract expires later this year, according to The Daily Telegraph, with senior figures keen to lure the respected journalist back to Melbourne in a move that could deal another significant blow to Nine. 

The timing could hardly be worse for the network, as it comes after Stefanovic exited Channel Nine following last week's furore over his controversial interview with British far-right activist Tommy Robinson, which appeared on the TV host's independent The Karl Stefanovic Show podcast.

And the former Today host, 51, may not find a home at rival networks, according to recent reports. 

Channel 7 and Network Ten have 'privately ruled out the possibility of hiring' Stefanovic, The Australian reported on Sunday. 

'Stefanovic is unlikely to front a show on Australian commercial television again,' the publication alleged. 

There is some good news, however, with The Australian reporting that the television host has avoided a court battle with his former employer. 

Nine and Stefanovic are believed to have agreed to an undisclosed six-figure settlement as part of his termination package. 

The TV star, who has been a Nine stalwart for some 25 years, had six months and over $1million left to be paid on his 12-month contract.

In the wake of his departure, Stefanovic shared a video online declaring, 'I am free'. 

He addressed his Today show fans in the clip, saying the last few days 'hadn't been easy' but he was happy to be 'truly independent' at last.