Instant Everton next manager odds: Premier League boss favourite, latest on Sam Allardyce

Sean Dyche, Manager of Burnley looks on during the Premier League match between Tottenham Hotspur and Burnley at Wembley Stadium on August 27, 2017 in London, England.

Everton have parted ways with manager Ronald Koeman.

A General view inside the stadium prior to the Premier League match between Everton and Stoke City at Goodison Park on August 12, 2017 in Liverpool, England.

Everton have today confirmed that manager Ronald Koeman has been relieved of his duties after a dreadful start to the season.

The Toffees went into the season full of hope and optimism, having splashed the cash over the summer on players such as Jordan Pickford, Michael Keane, Gylfi Sigurdsson and Davy Klaassen, whilst they also brought Wayne Rooney back to the club.

However, with five defeats in the first nine Premier League games, and just one point taken from three Europa League outings, Everton have endured a disastrous start to the campaign.

Sunday's dreadful 5-2 home defeat at the hands of Arsenal proved to be Koeman's final game in charge of Everton, as the Toffees have decided to part ways with the Dutchman after less than 18 months in charge.

Everton's Dutch manager Ronald Koeman reacts on the touchline shortly after Arsenal scored their second goal during the English Premier League football match between Everton and Arsenal at...

Bookmakers have already started pricing up odds for who could replace Koeman, and here are some of the main names in the frame this afternoon, as provided by Sky Bet.

Sean Dyche: 11/10

Burnley boss Dyche has emerged as the early favourite for the job, coming in at just 11/10. Dyche has worked wonders with Burnley since becoming Clarets boss in 2012, winning two promotions to the Premier League before keeping them in the top flight last season. With an impressive start to this season - which included a 1-0 win away at Everton before the international break - Dyche's stock is rising by the week, and a move to Goodison Park could be in the pipeline for the ex-Watford boss.

Sam Allardyce: 3/1

Out of work since leaving Crystal Palace at the end of last season, many thought that Allardyce had retired from management, but he seems to be open to a return to the top flight. 'Big Sam' has a track record of stabilising struggling clubs such as West Ham United, Sunderland and Palace, and whilst he is 3/1 to attempt to do the same thing at Goodison Park, Everton fans may not be too keen on the former England manager's style of play.

Sean Dyche, Manager of Burnley looks on during the Premier League match between Tottenham Hotspur and Burnley at Wembley Stadium on August 27, 2017 in London, England.

David Unsworth: 5/1

Ex-Everton defender Unsworth is currently serving as the Toffees' Under-23 coach, where he has been helping develop young players such as Tom Davies, Dominic Calvert-Lewin and Jonjoe Kenny since his appointment. Unsworth will be Everton's caretaker manager following Koeman's exit, but with no managerial experience to speak of, handing him the job - which he is 5/1 for - on a permanent basis would be a gamble.

Carlo Ancelotti: 12/1

Recently sacked by Bayern Munich despite winning the Bundesliga title last season, Italian boss Ancelotti is set to be one of the most in-demand managers in Europe having become available. Formerly of clubs such as AC Milan, Chelsea, Paris Saint-Germain and Real Madrid, Ancelotti's track record speaks for itself, with four league titles and three Champions League titles to his name - but whilst the 58-year-old is 12/1 for the Everton job, it may be a struggle convincing him.

Paulo Fonseca: 16/1

Portuguese boss Fonseca was a target for Everton in 2016 after Roberto Martinez's exit, but he ended up in Ukraine with Shakhtar Donetsk, where he has impressed. With a 79% win rate at Shakhtar, Fonseca is showing why he is so highly rated, and after spells with Porto, Pacos de Ferreira and Braga, Fonseca could still be a name in the Everton frame - and at 16/1, he is one to watch in the market.

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