Former Hawthorn football staff Alastair Clarkson and Chris Fagan are reportedly set for a return to coaching within days.

The duo have been central to bombshell saga of alleged racist conduct directed at three unnamed Indigenous players at the Hawks under their tutelage.

Brisbane coach Chris Fagan. image: Brisbane Lions Facebook

Quickly after accusations surfaced, Fagan stepped away from his role as head coach of Brisbane while Clarkson announced a delay to his start at North Melbourne while investigations took place.

Both have denied the claims levelled against them.

Initially indicated to be a swift process, an independent four-person panel to run an investigation into the claims took weeks to be appointed by the AFL.

The panel, led by senior lawyer Bernard Quinn, includes Julie Buxton, Palawa woman Jacqualyn Turfrey and Yuin man Tim Goodwin, was finalised October 5.

With the announcement came information on the AFL's process to the finalise the terms of reference of the investigation with all parties, including those representing Clarkson, Fagan and Jason Burt.

According to the Age's Michael Gleeson, both Clarkson and Fagan are eyeing a return to work when those terms are finalised, which could be within the week.

The identities of the three former and their players behind the accusations remain unknown.