Everton are set to give manager Ronald Koeman £50m in transfer funds as the club look to reshape their squad.
After a strong start, Everton have faded in recent months, with the club now 11 points off Arsenal, who currently occupy fourth place.
In an attempt to re-balance their squad, Koeman will be backed heavily in the coming transfer windows, with Manchester United duo Morgan Schneiderlin and Memphis Depay reportedly targeted.
The Mirrorreport Koeman has told Everton owner Farhad Moshiri his squad needs an overhaul, and Moshiri is happy to back him with £50m in January and the summer.
Koeman has stated his side need three signings in the winter transfer window, with Napoli'sManolo Gabbiadini high up on his list of transfer priorities.
A summer bid was rejected by Napoli, but Everton have been given fresh encouragement in their pursuit of the Italy international, with the striker reportedly available for £18m.
Koeman is keen to relieve the burden on star forward Romelu Lukaku, who has scored nine of Everton's 21 Premier League goals this season.
Everton are also confident of signing out of favour Manchester United duo Schneiderlin and Depay. Scheniderlin has been unable to assert himself in United's midfield, with the likes of Michael Carrick, Ander Herrera and Paul Pogba being preferred to the Frenchman.
Depay has disappointed ever since his move from PSV in 2015, scoring just two Premier League goals in 33 league appearances. Both players are available to leave Old Trafford, with United eager to recoup the £24m they paid Southampton for Schneiderlin in 2015. They are willing to take a loss on Depay, however, with the 22-year-old available for just £15m.
Everton are without Yannick Bolasie thanks to the winger's season ending injury, while the likes of Aaron Lennon and Gerard Deulofeu unable to impress so far this season.