Cheltenham fans will be having a chuckle though!
Ward led the Cumbrians to the League One play-offs last season, where they lost 3-2 on aggregate to Leeds United in the semi-finals.
Assistant manager Greg Abbott has been put in caretaker charge of the side and the hot favourite at 6/4 with Victor Chandler to remain in the position.
Pressure had been building on Ward since the tail-end of last season when Carlisle won just two of their last 10 games, despite making the play-offs. Carlisle then started this season well and won four of their first five games to go second in the table before defeat at Scunthorpe signalled the beginning of their disastrous run.
Ward took the reins at Carlisle after steering Cheltenham Town into League One and then securing them safety the following season. Prior to that appointment Ward had managed York City, Bristol City, Bristol Rovers and had a spell as caretaker manager at Wolverhampton Wanderers.
The Cumbrians are currently 20th in the League One table, just one point above the relegation zone.
However the board had remained supportive of the manager right up to Saturday's defeat, indeed stating last Thursday that they backed Ward and his team to recover from the slump. "Carlisle United are a club that has been through too many crises over the last decade or two but we remain confident that the current personnel at Brunton Park can lead us out of the present situation," the club's official statement read at the time!
In a latest update former Carlisle United boss Neil McDonald has been made the shock second favourite by bookmakers to succeed Ward at 13/2 with former Burnley boss Steve Cotterill and Norwich assistant Lee Clark back at 7/1.
The Geordie, 43, who was sacked at Brunton Park after one game of last season(!), is now first-team coach at Leeds. He said today: "It's interesting that my name has been mentioned. I probably made a few supporters happy with the way we played and the results we got - it was just a shame the way it ended. The job is unfinished, I suppose. And you never know what's around the corner in football. But I am enjoying what I am doing at Leeds. We are going well, second in the table, and we have given ourselves a good chance."
Other names said to be in the running include Charlton number two Phil Parkinson, another former Colchester gaffer Geraint Williams, Leicester chief Ian Holloway, ex-Watford boss Aidy Boothroyd and former United favourite Stan Ternent, who was sacked by Huddersfield, more on that one below!
Former Newcastle boss Sam Allardyce is a surprise 16/1 shot along with former Carlisle heroes Peter Beardsley and Andy Preece.
Odds: Greg Abbott 6/4; Neil McDonald 13/2; Steve Cotterill, Lee Clark 7/1; Phil Parkinson 8/1; Geraint Williams 9/1; John Gregory, Ian Holloway, John Collins 10/1; Aidy Boothroyd 11/1; Stan Ternent, Colin Hendry 12/1; Mick Halsall 14/1; Sam Allardyce, Steve Kember, Peter Beardsley, Andy Preece 16/1; Eddie Gray 20/1; Graham Kavanagh 25/1; Wes Saunders 33/1.
Blimey, they should get someone out of that lot.
However, we move on to Stan, now not the man, at Huddersfield. After the Yorkshiremen were made one of TLG's pre-season favourites for the play-offs, the poor bloke had no chance! (Better watch that, I also stuck the Blues! Don't worry my relegation tips are doing fine!)
The 62-year-old was only appointed boss in April but won just four of his 15 League One games at the helm this season, despite signing 11 new players. His final game in charge was Saturday's 3-2 home win over Crewe, which left the Terriers 16th in the table.
Chairman-elect Dean Hoyle told BBC Radio Leeds: "I had a sit down with Stan yesterday and we have a difference of opinion that had to come forward. The players' management wanted to go one way and the board of directors felt we need to go another way. We had a board meeting first thing this morning [Tuesday] and came to the unanimous decision to go our separate ways mutually."
Ternent's management team of assistant Ronnie Jepson and first-team coach Mick Docherty have also left the club.
Hoyle added: "Whether you're top of the table or bottom, if the management and the board of directors have a difference of opinion, which wasn't the same difference when Stan took the job, then you've got to go our separate ways. We've shook hands and I wish Stan, Ronnie and Doc the best. It's a shame it has come to this. Twelve, 13, 14 games for Stan is not long enough. I also believe eventually Stan would have gotten this club promoted, maybe not this year but next year. But when you have a difference of opinion on some matters, maybe it's not for us."
The club have also announced the departure of vice-chairman Andrew Watson, who played an integral part in the appointment of Ternent as Andy Ritchie's successor.
A club statement said: "Huddersfield Town has some great supporters and tremendous potential as well as great history and the search is now on to find someone who can harness these elements and take the club forward."
Ternent's appointment at the Galpharm Stadium came three years after his previous managerial job at Gillingham came to an end.
He started his managerial career at Blackpool but enjoyed his greatest successes at Bury and Burnley, guiding both to promotion to what is now the Championship.
Jon Robb, chairman of the Heavy Woollen branch of the supporters' group, said: "Most Town supporters will be pleased. The timing is a bit of a surprise though and we didn't really expect it. Stan has only just come out and said he never walks away from any job and that he was going to turn it around, so to leave by mutual consent is a bit surprising. Stan was not the man to take us up to the Championship."
The West Yorkshire club have now had four managers in less than two years.
Robb added: "We are not a big club or a small club, we fall in between which is a problem in attracting the manager with the whole package. We have a good crowd base and a good chairman elect in Dean Hoyle, who is Town mad. So the base is there to push on, we just need the right manager in charge, because we should be higher up."
With Dave Penney of Darlington insisting he's not interested, that will please Foran, half the lot above are in the running with, surprise, surprise, John Ward one of the favourites at 6-1!
Sky Bet's Helen Jacob said: "After taking just a handful of bets on the other candidates and racking up a four-figure liability on Boothroyd, we have suspended betting for the time-being pending further developments."
Ex Burnley boss, Steve Cotterill, is quoted at 9/1, with Huddersfield veteran and current assistant manager of Morecambe, Mark Lillis, available at 14/1!
Typical, we have to play Huddersfield twice and Carlisle once, look what happened with the Farmers and a new manager. Hope Borient stick with Ling!