Everton are looking to reinvest the money received from Anthony Gordon's departure with a move for Chelsea midfielder Conor Gallagher, 90min can confirm.
The Toffees are in need of reinforcements this month to aid their battle against relegation and have set their sights on Gallagher, who has been in and out of Graham Potter's starting lineup at Stamford Bridge.
A number of clubs are monitoring Gallagher's situation but sources have confirmed to 90min that Everton are looking to force their way to the front of the queue with a bid worth £40m, plus a further £5m in add-ons.
Both Crystal Palace and Newcastle United are understand to hold interest in Gallagher, although any bids from the two clubs would likely be initial loan moves as opposed to immediate, permanent exits.
Everton's biggest issue, however, could be convincing Gallagher to join. The 22-year-old, who is under contract until 2025, is not believed to be in a rush to leave Chelsea, for whom he has featured 25 times this season.
Indeed, sources have confirmed that Gallagher is not interested in a move to Everton at this time.
As for Chelsea, the Blues remain locked in negotiations with Benfica over Argentine midfielder Enzo Fernandez and are prepared to pay upwards of £105m to secure the 22-year-old's signature.
Chelsea hope to agree a deal which would see them pay that fee in instalments, despite Benfica's public insistance that suitors would have to trigger his £105m release clause and pay in full to convince them to sell this month.
Should Fernandez arrive at Stamford Bridge, Chelsea would have to clear up space in their squad and Gallagher is among the players who are attracting interest, alongside Hakim Ziyech and Ruben Loftus-Cheek.