The Toffees failed to sign even a single player over the course of the January transfer window and now their only hope of adding to the squad is to enter the free agent market.
They were linked with a move for Andre Ayew, but the player chose Nottingham Forest over them.
Now the relegation battlers have been linked with a move for former Real Madrid star Isco, who is currently a free agent following the termination of his contract by Sevilla.
The 30-year-old was close to a move to Germany with Union Berlin, but the deal collapsed in spite of the player successfully undergoing medical tests.
His agent Jorge Mendes is looking for a new club for his client and, according to Spanish daily Estadio Deportivo, Everton could be an option.
It is unclear if new Toffees boss Sean Dyche would be prepared to bring Isco to Goodison Park.
Over the course of his nine-year stay at Real Madrid, Isco managed to feature in 353 games for the Spanish giants making 110 goal contributions.
