Everton said it was no deal for Carlo Ancelotti to take over as new manager despite links that he is set to take over at the club.
Reports emerged Monday that the Italian will take on the job, prompting the club to say it "has held meetings with a number of candidates."
ESPN FC sources confirmed an offer to Ancelotti and added that Everton owner Farhad Moshiri is confident the deal will be done.
Ancelotti, who has won three Champions League titles in a garlanded career, was sacked by Naples earlier this month after a high profile fell out with club chairman Aurelio de Laurentiis.
"We can confirm that no contract offer has been made so far and that no candidates have opted to withdraw from the process," a statement from Everton said. "While the club is committed to confirming a new permanent manager as soon as possible, the only important duty is that proper hiring be done."
Everton are 16th in the Premier League, three points above the relegation zone, after kicking off Portuguese coach Marco Silva following a 5-2 defeat by Liverpool on December 4.
Former Everton striker Duncan Ferguson has been appointed as the middle manager, securing a 3-1 home win over Chelsea and 1-1 with Manchester United from his two responsible matches.
Should 60-year-old Ancelotti conclude a deal with Everton, it would be a significant bargain for the Merseyside club given his coach resume, which includes faith-filled sorcery at AC Milan, Chelsea, Paris Saint-Germain, Real Madrid and Bayern Munich.
Ferguson will lead the team in his League Cup quarter-final at home to Leicester City on Wednesday.
Former Everton boss David Moyes was linked to the post following the exclusion of Shanghai's Victor Pereira last week.
Information from Reuters was used in this report.