But, according to Watkinson, the club don't yet have anybody in mind to fill the new position.
"I would expect that if a new position is created they would advertise it so the best candidates out there have the opportunity to apply for it," said Watkinson (pictured). "They don't have anybody in mind at the moment."
And although his new role would see the former Test player have less day-to-day contact with the first team, Watkinson is still keen to carry on coaching.
"It would be pretty obvious that that new person would have quite a lot of input in what happens in the first-team dressing room and out on the field," said Watkinson, who has been cricket manager for the last seven years.
"I see the director of cricket role being part desk job and part track-suit job.
"And the relationship (with a possible new first-team coach) would be along the lines of the captain-coach relationship - that's going to be key.
"But we have to wait and see what happens tonight. Then I will crack on with a lot of enthusiasm and look forward to the new season."
Watkinson is keen on the plans to restructure the club's cricket management, which were revealed in Monday's M.E.N. Sport.
"It became pretty apparent to me that the things I was asked to do and the demands of the modern game meant I was stretched at times and I think it is vital for us that the quality time around the players isn't compromised," said Watkinson.
"I encourage any moves that can be positive for the team and the players. It looks like the club will make the right sort of steps to make that happen."
Watkinson, skipper Glen Chapple and several Lancashire players handed out gifts to patients at the Royal Manchester's Children Hospital in Pendlebury yesterday.
"It is a difficult time for the children with Christmas coming up and if we can brighten their day a little bit then great," said Watkinson.
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"less day-to-day contact with the first team" . . . . sounds good to me! Might have a chance of winning something with fresh blood at the helm.