Everton are reportedly set to name Marco Silva as their new manager this week after protracted negotiations with Watford.

The Toffees are said to have a deal agreed in principle with the former Hornets boss, who was sacked by the Vicarage Road club after just 26 games in charge in January.

Watford filed an official complaint to the Premier League earlier this month after claiming Everton made an illegal approach for head coach earlier in the season.

The Hornets maintain a belief they are owed compensation should Silva join Everton and replace Sam Allardyce as manager.

The Premier League chaired meetings between the two clubs in an attempt to reach a suitable conclusion for both sides and Everton are likely to pay Watford compensation.

With Silva already holding talks with the Everton hierarchy, the Merseyside outfit are confident they will be able to push through a deal before the weekend.

Despite guiding Everton to an eighth-place Premier League finish last season, Allardyce paid the price for his defensive approach with his job.

The Goodison Park club will be hopeful that Silva, 40, can implement a more pleasing style of play should he be appointed.