Get back to RagCafe.
They haven't sacked the Turtle because there's a power struggle at the swamp and Woodward doesn't want to look stupid, particularly when they've still a chance of getting a top 4 place, however realistic or not that may be. I can't imagine the Glazers want someone like Mourinho, who would be a potential Ferguson ally and be demanding huge money for players all the time. And Giggs would just be Baconface's puppet so they certainly don't want that either. Barring a disaster (and going out to FC Midtjylland would probably qualify as one) they will sit tight until nearer the end of the season.
The other side of this is that whatever delusions the rag fans have, the hierarchy at the swamp clearly know Pep has no intention of joining them. Whether he's said 'No' straight up or been more diplomatic ("Thanks but I've got other offers on the table that I'd prefer at this point in time") is neither here nor there but they know he isn't going there. And he's a coach, not a manager. He's coached clubs where there's been a huge support operation behind him. They've not got a DoF or even an Academy head and the owners are looking to build the bottom line at the expense of the trophy cabinet. People are right to be cautious but there is no way I can see that he's going there and the fact they haven't sacked LVG does not mean he is.
Whether he'd go there or not is debatable but Pellegrini would actually be a great choice for them. Attacking football, won't rock the boat and his own man but who would work with the owners.