Shanghai SIPG boss Vitor Pereira has ruled himself out of the running to become the next Everton manager.
Pereira had been the favourite to replace Marco Silva, who was sacked following the 5-2 defeat to local rivals Liverpool last week.
However, a potential move will not happen after he confirmed his commitment to his current project in China.
Speaking to Sky Sports, Pereira said: "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.
"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."
Pereira had been in negotiations with the Merseyside club after he was identified as their top candidate to replace Silva.
It is believed that Shanghai offered Pereira a new £25m a year deal in order to tempt him to stay with them for another season.
Next Everton manager (odds via Sky Bet)
- David Moyes - 4/6
- Vítor Pereira - 5/2
- Duncan Ferguson - 6/1
- Unai Emery - 12/1
- Rafael Benitez - 14/1
- Niko Kovac - 16/1
- Marcelo Gallardo - 20/1
The news means that David Moyes has returned into the odds-on favourite with Sky Bet for a return to Goodison Park.
Duncan Ferguson, who started his interim period as manager with a 3-1 victory over Chelsea on Saturday, is now at 6/1.
Unai Emery, recently sacked by Arsenal, has been linked with the vacancy and is fancied as an outside chance to become the next permanent boss.
Reports say that the Toffees held an 'informal meeting' with Emery this week although he wants more time to think about his next move.
Rafa Benitez, former Bayern Munich manager Niko Kovac and River Plate boss Marcelo Gallardo are also in the market.
Odds correct at 1715 GMT (10/12/19)
