Carlo Ancelotti wants assurances about the investment available at Everton before he agrees to become the club's next manager, sources have told ESPN.
Ancelotti has arrived in London to hold talks with Everton, and sources close to the former Milan and Chelsea boss have told ESPN that the first talks between the two parties have been positive.
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Ancelotti planned to take a break this summer before deciding on his next step after Naples decided to dismiss him last week – three hours after leading them into the Champions League knockout stages with a 4-0 victory over Genk.
The former Chelsea and Naples boss has been in Rome for the past few days and expects to travel to Canada in the coming days for the Christmas holidays.
However, Everton has asked him to change his plans and travel to the UK to listen to their proposal, hoping they can convince him to take over after being identified as the No. 1 target to replace Marco Silva.
Everton are ready to offer Ancelotti a lucrative and long-term deal, but sources have told ESPN that the Italian wants pledges to work on a winning project and wants to know the club's plans ahead of the upcoming transitional windows before making a decision.
The former Naples boss believes Everton needs to invest money in the squad to build a winning project, and sources have said that ESPN negotiations are not expected to go much further.
Ancelotti has won three Champions League titles in a glittering career that has seen him rule AC Milan, Chelsea, Paris Saint-Germain, Real Madrid and Bayern Munich.
Everton confirmed guard manager Duncan Ferguson will lead the team in their Carabao Cup quarterfinals at Goodison Park on Wednesday.
Ferguson has secured a 3-1 win over Chelsea and a 1-1 draw against Manchester United in their two responsible matches.