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Duncan Ferguson reportedly turned down the chance to join Carlo Ancelotti at Real Madrid.
Ancelotti has returned to the Spanish capital for a second spell after Zinedine Zidane left his post at the Santiago Bernabeu.
In news that shocked Everton fans, the experienced Italian boss signed a contract until 2024 and will look to replicate the success he delivered between 2013 and 2015.
According to The Sun, Ancelotti wanted to bring Everton legend Ferguson with him to Real as part of his coaching team but the Scotsman rejected the offer.
It's said that Ferguson, who has been on the first-team coaching staff at Everton for a number of years now, wants to become manager of the Toffees on a full-time basis.
The 49-year-old took interim charge of the club he loves so dearly in December 2019 when the club sacked Marco Silva.
He took charge of three games and amassed five points before Ancelotti was appointed and he returned to his coaching role.
Ferguson believes he is ready to take on the Everton job and hopes to considered by owner Farhad Moshiri and the board.
Former Wolves boss Nuno Espirito Santo is the favourite to replace Ancelotti at Goodison Park but Everton legend Neville Southall believes the club should give Ferguson a go
Via his agent, Dave Cockram, Southall told the Liverpool Echo: "It's important to support Big Dunc. He's the only man since Joe Royle to show the loyalty and dedication to revive our fantastic club's fortunes.
"He has stepped up each time he has been asked with pride, passion, commitment and drive to help our beloved club.
"If anyone understands the club it is him. We have tried all sorts of managers and in different ways they have all come up short.
"The big guy has learned a tremendous amount from each one but now I feel it's his time to become the manager.
"I truly believe he can be and every Evertonian would know we have someone who gets the club, will always give 100% and also drive the players to do the same.
"He's got a big enough heart, a big enough personality, tons of passion and enough knowledge to get us back to where we belong."
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