Rafa Benitez has rejected advances from Everton to become their new manager following the poor start to the season under Ronald Koeman.
Everton majority shareholder Farhad Moshiri and chairman Bill Kenwright are considering their options after seeing the club regress under the Dutchman despite heavy summer investment.
Benitez has strong links with the city having managed Liverpool for six years, leading them to Champions League glory in 2005.
But he has turned down the offer to return to Merseyside, according to The Sun.
The heat is on Koeman with the Toffees languishing in 16th place in the league, with just two wins from eight games.