Preston manager David Moyes was locked in talks today with senior club officials and mulling over the possibility of taking charge of Everton.
The Premiership side made an official approach for the Scottish boss almost as soon as they had announced the departure of another in Walter Smith.
Preston are anxious to keep Moyes, who has led them to two play-off finals and the English Second Division Championship.
However, they know that the chance of managing a Premiership club with a huge fan base may be too tempting to resist.
Moyes took training this morning before sitting down to talks with Preston's acting chairman Derek Shaw and chief executive Tony Scholes.
"In my opinion, David Moyes is the best young manager in football at the moment and it is in our interests not to lose him," said Shaw.
"David trained as normal with the players this morning, but myself and chief executive Tony Scholes will be sitting down with David Moyes to discuss the approach made by Everton.
"In any event, we will not allow David to leave unless an adequate compensation package is agreed."
PA