Vitor Pereira has confirmed he has pulled out of the running to be the next Everton manager.
Pereira, who is currently in charge of Shanghai SIPG in the Chinese Super League, emerged as the favourite to replace Marco Silva at Goodison Park.
Reports suggested the former Porto boss had held positive talks with Everton officials and they could have announced his appointment before the weekend.
But Pereira, having also been linked with Arsenal . has confirmed he is not making the move to Goodison Park.
However, he has admitted he would consider a job in the Premier League in the future.
"It's always an honour and I am utterly grateful to be considered on a list by a club that I have so much respect for," he told Sky Sports News.
"At this point I am still the coach of SIPG a club close to my heart in a country that is growing immensely in football.
"Currently I am not in a position to make any other commitments. I cannot decide now I need time to think and plan my future by looking at all the options I have.
"It's a league I love and yes for sure I would love to consider an opportunity in the future."
Duncan Ferguson led Everton to victory over Chelsea on Saturday and could remain in charge for the trip to Old Trafford.
Carlo Ancelotti is also believed to be under consideration and reports in Italy suggest he could be sacked by Napoli after their final Champions League group stage clash with Genk.
Former boss David Moyes and Eddie Howe are also contenders while Everton are believed to have held talks with Unai Emery after his Arsenal sacking.
