The former Leicester City manager is set to take over the Ligue 1 club once the French Football Federation ratify the deal
Claudio Ranieri is set to become the new manager of Nante, though the confirmation has been delayed due to the Italian coach's age.
The former Leicester City boss, who won the Premier League title in miraculous circumstances in 2015-16, has been unemployed since February of this year.
The 65-year-old was dismissed after a disastrous slump in form saw the Premier League champions slide into the relegation zone.
However, he is now set to return to management in France, though Nantes must await the confirmation of the deal from the FFF.