Carlo Ancelotti's representatives have reportedly flown to London for talks over the Everton job.
Former Chelsea boss Ancelotti was sacked by Napoli earlier this week and remains a contender for the vacancies at Everton and Arsenal .
Arsenal are ready to hold talks with the Italian, who is high on their list of candidates to replace Unai Emery.
But they may have to get a move on with Everton having reportedly stolen a march on their Premier League rivals.
Ancelotti's representatives reportedly flew in to London on Wednesday night to meet with Everton officials, reports the Sun.
Everton have made the 60-year-old their top target to come in while Arsenal have a lengthy list of contenders.
Ancelotti is keen on a return to English football and would be willing to discuss a move straight back into management, once his Napoli severance package has been agreed.
It is claimed Everton would be willing to offer Ancelotti a bumper two-and-a-half-year contract to lure him to Goodison Park, as well as the funds to strengthen his squad.
The Toffees have already forked out a significant outlay on players in the last few years but are languishing at the wrong end of the table.
Everton confirmed Duncan Ferguson would remain in caretaker charge for this weekend's trip to Manchester United after leading the club to victory over Chelsea.
It is still early days in Arsenal's search as the four-man panel - head of football Raul Sanllehi, technical director Edu, managing director Vinai Venkatesham and contracts negotiator Huss Fahmy - speak to contenders and their representatives.
Former Valencia boss Marcelino has been spoken to while former captains Patrick Vieira and Mikel Arteta are emerging as serious contenders.
