Written byAyush Gupta
The development comes after the club's 2-5 defeat at the hands of Merseyside rivals Liverpool on Wednesday, as they fell to the relegation zone.
Meanwhile, first-team coach Duncan Ferguson has been announced as the caretaker manager for now.
Here is more on this.
Analyzing Everton's performance under Silva, it has been a below-par one.
Since taking charge in May 2018, Everton have played 60 games under him, winning and losing 24 each, while they have a win percentage of 40.
It was under him when Everton finished in the eighth spot, in the Premier League last season.
Notably, Silva did not win any silverware at the club.
Following Silva's sacking, Everton released an official statement, where the board of directors thanked him for his services and wished him well for the future.
"Duncan Ferguson has taken temporary charge of the first team and will manage the side for the game against Chelsea on Saturday. The club aims to confirm a new permanent manager as swiftly as possible," the statement added.
As far as replacement is concerned, a lot of names have been doing rounds.
Notably, it was in 2013 when Moyes had left Goodison Park to replace Sir Alex Ferguson at Manchester United.
Considering Moyes' managerial career at Everton, it had been a decent one.
From March 2002 to June 2013, the club had played 518 games under him, winning 218 and losing 161, with a win percentage of 42.08.
So far, it is Moyes' third-best managerial performance at a club.
He left the club for United, where he had a nine-month reign.
Following are the accolades Moyes has won as the Everton manager: LMA Manager of the Year- 2002-03, 2004-05, 2008-09. Premier League Manager of the Month- November 2002, September 2004, January 2006, February 2008, February 2009, January 2010, March 2010, October 2010, September 2012, March 2013.
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