Carlo Ancelotti has agreed to take over as Everton manager, according to reports out of England.

Ancelotti may forgo the money he is owed at Napoli to speed up the hire. Ancelotti, who is under contract with the club until 2021, will hold talks with the Serie A club.

Duncan Ferguson will remain as caretaker manager for Wednesday night's Carabao Cup quarterfinal match against Leicester City.