Wise had a release clause inserted into his agreement when he took over in May which allows him to join a club higher up the league.
And it has also been revealed the former Chelsea star is unsettled at the County Ground because of a split among the directors.
Brian Power, who was the driving force behind bringing Wise, Gus Poyet and Paul Ince to the League Two side, is at odds with some of the longer-serving members of the board.
Despite his side's promising start to the season, Wise does not want to become involved in any boardroom battles.
And the former England international who led Millwall to the 2004 FA Cup Final, is desperate for another shot at the big-time.
Wise is top of Bates's list while ex-Chelsea manager Claudio Ranieri and Luton boss Mike Newell figure highly.
Blackwell's former No.2 John Carver has been appointed caretaker boss and will be assisted by technical director Gwyn Williams.