Everton are keen to find a replacement for their former manager Ronald Koeman, who was relieved of his duties following an underwhelming start to the domestic campaign.
Watford boss Marco Silva emerged as the frontrunner for the job after Everton expressed a desire to get the Portuguese chief's signature. The Toffees initially put forward bids of £8.5 and £10m, both of which were rejected by the Hornets.
Everton officials were desperate to get their man, however, and put forward a bid of £12m as a last-ditch attempt in order to persuade Watford into agreeing the deal.
However, it has been revealed that Everton have rejected the bid and will not entertain any further offers, standing firm to keep the 40-year-old at Vicarage Road.
Breaking news on #WatfordFC— Adam Leventhal (@AdamLeventhal) November 19, 2017
Sky Sources: Watford have rejected #Everton’s approach for Marco Silva & won’t entertain any further offers at any price.
Understand reports they’ve put a value on Silva is not true and the club expect him to stay.
More on @SkySportsNews
SIlva has not yet registered a full campaign at the helm in Watford and owner Gino Pozzo will not want to lose his manager mid-season.
A spokesperson for Watford revealed to SkySports: "We will not countenance an approach for our manager, either from Everton or indeed any other club, be it in the Premier League or abroad."
Silva himself claims he is unaware of any talk of a departure from Watford as he claims: "I don't know about an offer or not, or what's happened.
"It's for the board, the owners to talk to each other about the situation. For me it's a normal situation. What's most important in this moment is the game against West Ham."
It is yet to be seen whether Everton will move for an alternative option to the elusive Portuguese man or whether they will attempt to re-open negotiations for their primary candidate.
However, Watford will need to focus on their clash with West Ham at Vicarage road, as they look to avoid the bottom half of the table.