The Belgian is expected to be unveiled as Thomas Tuchel’s replacement this week after agreeing to take over at the Allianz Arena.
It’s been widely reported that Kompany is set to agree a contract until 2027 after the two parties agreed a compensation package of €12m (£10.2m).
That would make Kompany the fourth most expensive boss in football history.
For the Clarets, however, they must now begin their search for his successor as they look to identify the man who will be tasked with guiding the club back to the Premier League at the first attempt.
Here are the current favourites, according to Skybet:
9. Mark Robins - 9/1
Has constantly overperformed with Coventry but has yet to get his break with a bigger club higher up the foodchain. Photo: Dan Mullan
10. Will Still - 8/1
Free to take his next job after leaving French side Reims at the start of this month. Photo: FRANCOIS NASCIMBENI
11. Liam Rosenior - 8/1
Harshly sacked by Hull at the end of the season after missing out on the Championship play-offs by just three points. Photo: Dan Istitene
12. David Moyes - 4/1
Uncertain whether he'd drop down to the Championship but retains a soft spot for the North West following his time at Preston earlier in his career. Photo: Naomi Baker