Everton is in discussion with Southampton boss Ronald Koeman about becoming their new manager.
The talks are usually facilitated by majority shareholder Farhad Moshiri and the club now have to agree compensation before the talks can progress. Compensation is believed to be in the region of £3m.
It is thought that Moshiri has detailed his long-term vision to Koeman, including transfer budget and stadium plans in a bid to convince him join.
Koeman led Southampton to a sixth-place finish in the Premier League, five positions ahead of Everton.