Everton want Vitor Pereira as their new manager and hope to have him in place before Sunday's trip to Manchester United, according to Sky Sports.
Negotiations have continued over the past seven days, with Everton willing to offer the 51-year old a three-year deal to take control at Goodison Park following the sacking of Marco Silva last Friday.
Everton's plans may be scuppered, however, by Pereira's current club Shanghai SIPG, who are desperate to keep hold of their man and are making every effort - including the offer of a new £25m a year contract - to tempt him into one more season in the Chinese Super League.
Neither Everton nor Arsenal, who are also rumoured to be keen on the Portuguese, will come close to matching the eye-watering wages on offer from SIPG.
While negotiations continue, Pereira has remained in Shanghai and is known to have received the backing of his family if he chooses to stay in China for another year.