This all comes amid a quiet spell with regards to other targets still remaining on the market and all talk of Frank de Boer appears to be from his own camp and not Everton.
Pellegrini appears to be the target for Everton as long as he is as, some papers put it, 'tough enough' for the position. They appear to want a stronger force at the helm to maintain the squad and instruct the players better than Roberto Martinez was able to do.
The 62-year-old manager is apparently drawing interest from Valencia, but it would appear from the talks that he is interested in the Everton job and another opportunity in the English league. There is talk of a two-year deal with an option to add third year for the Chilean manager.
Now that Jose Mourinho is officially the next Manchester United manager it fell to Pellegrini to be the next big name who was currently without a job and could bring a big reputation with him. While his finish at Manchester City was less than stellar he's a very good manager and has name recognition with players. It's unlikely he saves players like Romelu Lukaku and John Stones who appear destined to leave, but names like Seamus Coleman and Ross Barkley will surely view this as a chance to stay and prosper.
Hopefully Everton can close a deal with their next manager this week and move on to the summer and preparing for next season.