David Moyes has emerged as one of the early front-runners after Ronald Koeman left Everton on Monday afternoon.
The Toffees were thrashed 5-2 at home to Arsenal on Sunday, and that result proved to be the final straw for the Dutchman as the blue half of Liverpool slipped into the relegation zone.
Moyes, who managed the club for 11 years before moving to Manchester United, has been without a job since resigning as Sunderland boss in May this year and can be backed at 4/1 (5.0) with Paddy Power to return to Everton.
The Scotsman has one of the highest win percentages in the club’s history at just over 42 percent, whilst his 518 games in charge of the Toffees is currently the fourth-most of any Everton manager.
However, Burnley boss Sean Dyche, who has also been heavily linked to the Leicester City job after they handed Craig Shakespeare his P45 last week, is the bookies’ favourite at 15/8 (2.88).
The Clarets have made a superb start to the Premier League season and currently sit in eighth place – 10 above Everton – despite a 3-0 loss at Manchester City on Saturday.
David Unsworth – currently in charge of Everton’s Under-23 side – is also in the running at 7/2 (4.50) and will likely act as caretaker until a replacement for Koeman is found.
Another former Manchester United boss in Louis van Gaal is available to back at 4/1 (5.0); the Dutchman has been unemployed since being fired by the Red Devils last summer and could be keen on a return to the management after a reported move to Bayern Munich fell through.
Elsewhere, Roberto Mancini and Sam Allardyce are priced at 7/1 (8.0) by the odds compilers, Eddie Howe is quoted at 11/1 (12.0), whilst Darren Ferguson, Carlo Ancelotti, or Chris Coleman can each be backed at a chunky 12/1 (13.0).
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