Though the report states an official approach was turned down by Watford, it adds that Silva is interested in moving to Everton.
And one Everton player who would almost certainly welcome the 40-year-old's arrival is the man he rescued from Goodison Park exile in January, Oumar Niasse.
Niasse kickstarted his career in English football under Silva at Hull, for whom he scored five goals in 19 appearances.
And speaking to the Daily Star in May, the Senegal striker said: "I was in a difficult situation at Everton. I knew it wasn’t me doing something wrong, but that’s life and football can be like that.
"The manager [Silva] and the club [Hull] gave me the opportunity to play again here, so I've taken my chance and I'm enjoying my football once more."
He added: "He's a good person, and when you are a good person life smiles at you. For me, he can be a big manager.
He's already very good but I think he can manage one of the big clubs. He's done it in Portugal, Greece and now he's started to prove himself in England.
"It's a pressurised environment but he's made some good improvements to the team and he’s going to keep getting better. He has a great energy about him."
Niasse has excelled since returning to Everton, already equalling his tally for last season in only 320 minutes of football.
And with Silva in charge, things may only get better.