David Moyes is the leading contender to replace Sean Dyche at .

The Toffees are considering bringing their former manager back after new owners, The Friedkin Group, . The decision was made official just three hours and 11 minutes before Everton faced Peterborough in the third round.

Dyche, 53, had been made aware earlier this week that his job was under threat and talks came to a head on Thursday afternoon. The Blues had won just one game in 11 before last night and are just a point above the relegation zone after defeats by and .

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He had taken training in morning but his fate was already sealed over the past few days. Dyche had held discussions with TFG and he insinuated in those meetings that he felt he had taken the club as far as he could.

That feeling led to the US firm beginning their search for a successor and beginning compensation talks with the manager as they had felt he had effectively given up.
But when Dyche reiterated those feelings in a meeting on Thursday afternoon, the decision was made to relieve him of his duties before the Peterborough game.

His coaching staff of Ian Woan, Steve Stone, Mark Howard and Billy Mercer were also dismissed. It is understood a compensation settlement has been agreed. Leighton Baines and Seamus Coleman are taking charge of the Cup tie.

The players were at the Titanic Hotel in city centre when they were made aware of the change just before an official statement was released by the club.
It is not known if Dyche informed them himself or if he had already departed the hotel.

TFG now turn their focus to bringing in a successor with Moyes set for talks with the owners on Friday Sources close to the club believe he could be a good fit, potentially on an initial short-term basis. is not under consideration after he was sacked by TFG as Roma boss last year.

Moyes, 61, spent 11 years as Everton boss from March 2002 until June 2013 when he left to replace Sir .

He managed over 500 games and steered the club to a top-four finish in 2004-05. They slipped up in the qualifiers but it remains their highest finish.

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