Everton owners The Friedkin Group are hopeful they can replace Sean Dyche quickly and could have a new manager in place ahead of the club’s next game.

Dyche was formally dismissed on Thursday afternoon, just hours before the FA Cup game with Peterborough United.

But TFG were aware of the need for succession planning - already in the works given Dyche’s expiring contract - to step up days earlier.

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In the aftermath of the dismal defeat to Bournemouth, Dyche is understood to have informed the new hierarchy he believed he had taken Everton as far as he could.

The new owners, who had backed him upon confirmation of their takeover in December, entered discussions over his departure as a result.

The delay in Dyche’s exit - which meant he led the pre-match press conference on Tuesday afternoon - is believed to have been because of those negotiations, with TFG arguing against a full payout due to Dyche having acknowledged his time was up. There is a desire within the US group to make clear Everton are not a soft touch when it comes to such negotiations.

As those talks continued, the ECHO is aware some first team players sensed Dyche’s end was approaching due to his demeanour at Finch Farm. He was bullish when speaking to the press ahead of the FA Cup third round tie but conceded multiple times that it was appropriate for TFG to be considering his successor.

Talks over Dyche’s departure are not thought to have been heavily influenced by West Ham United’s pursuit of Graham Potter, who took over at the London club earlier this week. While Potter had been on Everton’s radar, the club is not thought to have made a formal approach to the former Chelsea boss.

Instead, focus was fully on the negotiations with Dyche. They advanced through the week and by Thursday morning there was a belief among some sections of the football industry that Dyche’s exit was imminent and that Under-18s boss Leighton Baines was being lined up to lead the club on Thursday night. That was confirmed just after 4.30pm, with club captain Seamus Coleman supporting him.

Work to install a replacement is underway and TFG hope for it to be quick. Despite reports, Jose Mourinho is not believed to be under consideration.

Former boss David Moyes is the bookies’ favourite for the job. While he recently suggested he would not like to return to management for a relegation battle, Everton are thought to represent a special proposition for him due to his previous time at the club.

Should Moyes return it would also echo TFG’s approach at Everton’s sister club, Roma, where managerial issues earlier this season led to the owners turning to Claudio Ranieri, a Roma favourite, to restore stability.