The 20-year-old centre-forward impressed during his loan spell with Preston North End last season.
And in the ongoing transfer window, Cannon is the centre of attention for Championship outfits Preston, Stoke City, Sunderland and Birmingham City.
Everton are willing to let Cannon go on another loan this season and they want a £1m loan fee for the striker.
Preston, who are keen to take Cannon back to Deepdale for another season, have come closest to meeting Everton’s £1m asking price, but Stoke also have the cash to do the deal.
And it was suggested that the Toffees would make a decision on Cannon’s future today.
But Everton have decided to delay the 20-year-old’s loan move until they are able to bring in two new forwards to Goodison Park.
The Toffees have already agreed a deal with Sporting Lisbon for Youssef Chermiti and the player is set to undergo a medical today.
