The big chiefs at Everton are now on the hunt for a new boss. Though former Liverpool boss Rafa Benitez is clear favourite, the club have also been eyeing up the impressive Antonio Conte, as well as Eddie Howe and Nuno Espirito Santo.
But who will be taking charge of the Blues next season? Planet Sport runs you through the bookie's favourites to take the charge.
The former Liverpool and Newcastle United manager is currently out of work after leaving Chinese Super League side Dalian this year.
With plenty of experience in the Premier League, 'Rafa' may be the man to take over at the Toffees. Although after spending six years on the red half of the city, where he won the Champions League and the FA Cup, many will raise an eyebrow.
Apparently he is already in talks and looks nailed on to be the new man at Goodison. But didn't they say that about Nuno a few weeks ago?
Nuno Espirito Santo
The former Wolverhampton Wanderers boss was top of the bookies' lists to replace Ancelotti at Everton.
The Portuguese boss revived the fortunes of a down and out Wolves side, transforming them into a household Premier League name.
Everton are in a similar situation. With new breakthrough of talents including Calvert Lewin and Richarlison, there is also arguably some deadwood to clear.
Could Nuno have the ability to revolutionise this Everton side and get them back into challenging for those European places?
The Brighton and Hove Albion boss has proven his qualities in England, as well as in Wales and Sweden, gaining a lot of interest from many clubs this Summer.
Although he has been targeted by many teams to takeover one of the many vacant managerial spots, Everton don't appear to be as interested in the Brighton man as the other clubs.
Could Everton miss out on another talented young British manager?
Although the Spaniard is currently away on international duty with national side Belgium this Euro 2020, the former Everton manager could be on his way back to Goodison Park.
Martinez's name has been thrown around a lot this Summer, with links to Spurs, Crystal Palace, and Wolves. However, it seems big boss Farhad Moshiri wants to bring back the man he sacked in 2016.
The Spaniard has proved his talents during his managerial term at Belgium, finishing third in the 2018 World Cup, as well as having a rather good shot at this year's European Championship.
Could he be on his way back to Everton?
After talks broke down in North London with Spurs, Everton are looking to snap up some slopping seconds. Everton have been linked with former AS Roma boss Paulo Fonseca this Summer, hoping he can take the Toffees back to the top.
His Roma finished in a disappointing seventh place in the 2020/21 Serie A season, dropping two spots from the campaign before. Despite poor league form, many Premier League clubs believe the Portuguese is another worthy candidate.
Although a few names are ahead of the former Roma boss, he is still worth a shot.
The Swiss is another manager that has gained a lot of attention from Premier League clubs this summer. The previous Borussia Dortmund manager is low on the list to take over from Ancelotti, with it looking likely that he may make a move to Crystal Palace instead.
However, with what we have seen so far this summer, it wouldn't shock me if Favre's odds improve for the Everton job.
'Big Dunc' had a terrific three game spell as Everton interim manager back in December 2019, where he lifted his side out of the relegation zone after wins against Chelsea, and two draws against Manchester United and Arsenal.
The former Everton player embodies the Everton spirit; his appointment would certainly get that fans back on side.
But with little experience in the Premier League, it could go south if he is handed the manager job.