The Toffees sacked manager Ronald Koeman last month after a torrid start to the season, in which the Dutchman lost five of his first nine games to open the campaign.
Koeman has been temporarily replaced by caretaker boss David Unsworth, and whilst he got his first win with a 3-2 comeback victory over Watford before the international break, Everton have been looking elsewhere too.
After making a failed approach for Marco Silva on Monday, Sky Sports report that Everton have given up hope of landing the Watford boss – and have also ended their interest in Sam Allardyce too.
Allardyce allegedly told Everton over the weekend that he is no longer interested in the job, as after holding talks on Sunday, Allardyce felt that the offer of a contract until the end of the season simply wasn't good enough.
Everton then wanted to land Silva on Monday, but Watford unsurprisingly told them there was no chance of a deal, having only appointed the Portuguese boss over the summer.
The Times claim that Everton offered a compensation package of £8.5million for Silva, but Watford stood firm as they attempt to keep the 40-year-old at Vicarage Road.
That leaves Everton scrambling for another target having given up on both men, which may just leave Unsworth in a strong position to land the job full time.