Frank Lampard has taken over at Goodison Park and Everton have been swinging into action in the transfer window to back their new boss.
The Toffees have signed Donny van de Beek on a loan deal from Manchester United, while Dele Alli is joining on a permanent arrangement from Tottenham Hotspur.
Everton also wanted a striker from La Liga though to add to their firepower.
They made an approach to Real Madrid in an effort to secure the services of Serbia international Jovic.
However, Real Madrid were not willing to play ball and rejected the Toffees’ approach.
Jovic has been used from the bench by Real Madrid coach Carlo Ancelotti this term, making 15 appearances across all competitions for the club.
And the striker will see out the season in the Spanish capital.
It remains to be seen if Everton will go back for him in the summer.