After a damaging 3-0 defeat to Sunderland on Wednesday Everton manager Roberto Martinez was sacked by the the Barclays Premier league club.
Martinez was appointed manager in 2013 and guided The Toffees to an impressive fifth-place finish in his first season. But it's all gone downhill from there and Wednesday's result leaves Everton in 12th place - their lowest position in 12 years going into the final day of the Premier League season.
Here we look at some of the possible contenders to replace the Spaniard as well as their Sky Bet odds to be in charge for the first league game of next season.
Everton managerial contenders and odds
Frank De Boer (Sky Bet odds: 4/9)
Frank De Boer is now a former Ajax boss leaving the Dutch giants just days after his agent said he 'would love to join a club like Everton'. It therefore looks like everything is in place for De Boer to take over at Everton, but what does the Dutchman bring to the table? Appointed as Ajax boss in 2010, De Boer won the Eredivisie in his first season in charge before guiding the club to a further three straight titles making him the first Ajax boss to win four consecutive league titles. De Boer has regularly qualified for the Champions League with Ajax, something most Everton fans believe the club should be challenging for.
De Boer has been constantly linked with jobs in the Premier League thanks to an attractive style of play that was ingrained into him during his time at Ajax, and now looks the right time for him to step up and take a chance in the big leagues.
Mark Hughes (Sky Bet odds: 11/2)
If you're looking for stability and regular finishes in the top half of the table then look no further than Mark Hughes. Currently the manager of Stoke City, Hughes has guided the Potters to consecutive ninth-place finishes and his side currently sit tenth in the league this season. Hughes does have experience in Europe, taking Man City to the quarter-finals of the UEFA Cup in 2009, guiding Fulham to Europa League qualification in 2011, and helping Blackburn to the last 32 of the UEFA Cup after an unlikely sixth-place finish in 2006.
After the disaster that was this season Everton's main priority next term may just be achieving a top-half finish rather than challenging for a place in Europe and, if so, then Hughes could be the right man for the job.
Manuel Pellegrini (Sky Bet odds: 15/2)
Perhaps one of the more unlikely choices given Pellegrini's calibre but it would surely be an appointment Everton fans would welcome. Pellegrini has experience of bringing success to mid-table sides before having guided Villarreal to a third-place finish in La Liga in 2004-2005 during his first season in charge before reaching the semi-finals of the Champions League the following year. In his first full season in charge of Malaga he guided the club to fourth before taking them to the Champions League quarter-finals the following year. Pellegrini also knows how to get the best out of young players such as Isco with Malaga and Iheanacho with City. Perhaps he could be the one to unlock the full potential in Ross Barkley?
Although he is set to leave Manchester City on a sour note, Pellegrini will be remembered most for leading City to the Premier League title in 2014. He has proved on two separate occasions that he can bring huge domestic and European success to a mid-table team, which could make him a good fit for the Toffees.
Ronald Koeman (Sky Bet odds: 8/1)
Southampton have had another fantastic season in the Premier League this year and one of the key factors in this is their manager Ronald Koeman. The Dutchman is set to guide the Saints to their second consecutive top-10 finish and even a possible Europa League place should results go their way on the final day of the season. Koeman has brought success to some of Europe's marquee clubs winning league titles with Ajax, PSV and Benfica.
Koeman promotes a style of play that is very similar to Martinez but right now with very different results. Given the talent that Everton possess in their squad Koeman could be the man that is finally able to get the best from them and see the Goodison Park outfit threatening the European spots once more.
David Moyes (Sky Bet odds: 10/1)
During David Moyes' 11-year spell at the Goodison helm Everton regularly challenged for top-four places, competing in the UEFA Cup/Europa League, qualifying for the Champions League and an FA Cup final appearance in 2009. He brought stability to a club that had precious little of it in the years immediately before and since his reign. From Moyes' point of view, then, a return to Goodison Park could make sense. Everton is a club he knows well and is a place where he still has a good relationship with Bill Kenwright and fans.
After disastrous spells in charge of Manchester United and Real Sociedad, Moyes will be looking to rebuild his reputation as a manager and returning to the Premier League to bring success back to Everton could be the perfect way for him to do this.
Rafael Benitez (Sky Bet odds: 12/1)
This one may not elicit approval on either side of the Liverpool footballing divide given his legendary status at Anfield but it cannot be doubted that Rafa Benitez holds one of the most impressive CVs in football. During his time with Valencia he won two La Liga titles and a UEFA Cup and has brought success to other top teams around Europe. But he will be remembered most for masterminding one the greatest comebacks in football history when his Liverpool side came from 3-0 down to win the Champions League in 2006.
His most recent spells with Real Madrid and Newcastle may have not gone to plan but there is no doubt that Benitez can bring success to a club the size of Everton, where fans believe they should be challenging for more trophies.