David Moyes to replace Sir Alex Ferguson at Manchester United

According to BBC Sport, Manchester United and Everton are locked in talks about the release of David Moyes to succeed Sir Alex Ferguson at Old Trafford.

Ferguson, 71, revealed his decision to step down on Wednesday after nearly 27 years in charge at Old Trafford.

An announcement is expected on Thursday, although the discussions mean that could slip to Friday.

Moyes, in charge at Goodison Park since 2002, is out of contract at the end of the season.

The 50-year-old held talks with Toffees chairman Bill Kenwright on Wednesday evening.

Kenwright told Sky Sports News: "David's contract is up in six weeks' time and he has a right to make his own decisions. He has served this club wonderfully well."

Real Madrid boss Jose Mourinho has also been linked with the task of replacing Ferguson, but Moyes looks set to get the job.

United chief executive David Gill believes the job is a unique opportunity for whoever takes over.

"It is a dream job," he told MUTV.

"The new manager will inherit a great squad and infrastructure off the pitch, with a great staff.

"He will be walking into a difficult situation in terms of the number of trophies, but the positive of also having the support of the Manchester United family."

Wigan's Roberto Martinez and Swansea's Michael Laudrup are thought to top Everton's list of potential replacements should Moyes, as expected, be confirmed as United's next manager.