David Moyes has indicated that he would consider a return to Everton after Ronald Koeman confirmed he was set to stay at Southampton.
Everton are reported to be targeting Koeman as a replacement for Roberto Martinez, sacked last week, but the Dutchman looks likely to remain with the Saints.
That could open the way for a return to Moyes, who left Goodison to join Manchester United in 2013 but was sacked after a defeat at Everton after less than a full season.
The Times reported him as saying: "Would I consider going back? I've said if I get an exciting challenge and something that makes me feel I could get my teeth into it I would be really interested.
"When we took over we had 11 great and successful years, but we also had to rebuild the club a little bit. I just think now the change has been made Everton need to now go and do it again."
Moyes said he "tends to rebuild a club and tends to get it going in the right direction and make sure that things are correct" and added: "I'm looking forward to getting the chance to do that again."
Speaking on Friday, Koeman said: "I am manager of Southampton.
"I mentioned last week, and everybody knows, I have one more year more contract.
"What I mentioned last week, because I got the same question about my future, is that we will sit together and we will analyse this season and talk about the future. That's what the news is."