Both Toshack and Iriarte have coached at Sociedad previously

Earlier speculation was that Toshack himself was lined up for the role of sporting director at the club, but attention has now switched to Iriarte.

If that move happens, ex-Fulham boss Chris Coleman may step in as manager.

"The pull of going back to Sociedad may be too much for Iriarte to turn down," said ex-Athletico Madrid boss Colin Addison, in Spain for their cup final.

"The word is that Toshack had no interest, but that Iriarte is in line."

Iriarte is not under contract with the Football Association of Wales, and it is believed that he could combine the club role with his Wales duties.

Real Sociedad president Maria de la Pena earlier distanced herself from the link with Toshack, who has managed the Basque side on three separate occasions.

Sociedad are in turmoil after being relegated from Spain's Primera Liga for the first time in 40 years last season.

"I have heard the rumours, but the press often goes in front of the news," De la Pena told a press conference.

"In the next few days we will inform you of everything and we will give answers."

Sociedad vice-president Luis Ansoalde confirmed they have not spoken with Toshack, who has also coached Real Madrid and Deportivo la Coruna in Spain.

The Football Association of Wales says it has had no approach from Real Sociedad to speak to Toshack, but made it clear an approach for its manager would not be welcomed.

The Welshman is an icon in San Sebastian, where he still keeps a house.

But Toshack is unlikely to quit his job with Wales half-way through his five-year contract and part-way through the rebuilding process he has embarked upon with the national team.

As well as Iriarte, Sociedad are understood to have had discussions with Espanyol's Albert Valentin over the sporting director job, vacated by Jesus Zamora, while Xabier Azkargorta is another candidate.