Senior Richmond advisor Neil Balme has provided the latest into the club's search for a new head coach, while a candidate linked to the vacancy is understood to have pulled out from the race.

The Tigers have commenced the process of their coaching search to find Damien Hardwick's successor, with a shortlist of candidates reportedly set after potential runners were required to make their interest known.

It has been revealed in recent days that former Richmond captain Chris Newman is among the names contending for the position alongside interim coach and favourite for the role, Andrew McQualter.

Led by chief executive Brendon Gale, the Tigers' search sub-committee will work to narrow down their list of candidates to one, with the club likely looking toward a newer voice for the job.

While murmurs have begun to swirl as to who Richmond is looking toward, Balme has noted the club doesn't listen to external suggestions, but is keeping its finger on the pulse.

"You've got to have that connection with people to find out what they think of people that you might consider," Balme told RSN on Thursday morning.

"Andrew (McQualter) is telling a good story for himself. He's had a lovely connection with the players. The last couple of weeks we might not be seeing the results we would've liked, but that's not all down to him.

SYDNEY, AUSTRALIA - JUNE 04: Jack Riewoldt of the Tigers and Tigers interim head coach Andrew McQualter sing the team song as they celebrate victory during the round 12 AFL match between Greater Western Sydney Giants and Richmond Tigers at GIANTS Stadium, on June 04, 2023, in Sydney, Australia. (Photo by Mark Kolbe/Getty Images)

"It's a great opportunity for a club to go into (the process), appoint a new coach and appoint someone who is going to show us the way.

"We will certainly consider who else is available and make the decision that's best for the club."

Balme hasn't ruled out the club's chances of hiring an experienced mentor as their next senior coach, with the Tigers to appoint the candidate who can buy into the club's direction and cultural while knowing the game.

"There's an argument for both (experience and a fresh voice), depending on where you are," Balme said.

"This club is in a pretty strong position culturally, I don't think it would matter one way or the other. As long as they buy in to what you are doing. They've got to know the game and people.

"Whether they're an experienced coach or not probably doesn't matter nowadays. Once, the senior needed to know everything about footy. Now they've got four to five assistant coaches who do the job together. It's about managing their intellect as well.

"We'll put all that down and sort out what type of person we need and what sort of job they need to do."

The Tigers' potential pool of candidates has seemingly shrunken in size over recent days, with Port Adelaide assistant Josh Carr one of three potential options that have turned down the opportunity to pursue the Richmond role.

Fremantle assistant Jaymie Graham and former Tiger Troy Chaplin are also understood to have knocked back the chance for their maiden AFL senior coaching gig to be at Punt Road.

Potentially joining them is Collingwood assistant Hayden Skipworth, withย 7 News'ย Andrew McCormack reporting on Wednesday night that the Magpies coach won't pursue the role.

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Skipworth is among the most-respected assistant in the competition, having played a pivotal role at Olympic Park in recent seasons since being promoted to the club's senior coaching panel.

Skipworth's decision would be another win for Collingwood as Richmond searches for their new coach, with Justin Leppitsch also set to remain with the Magpies over a potential return to the Tigers.