The Toffees fell to defeat at Silva’s former side Watford yesterday to make it three defeats in a row.
Despite early season promise, big-spending Silva has thus far failed to deliver at Goodison Park.
The club courted him whilst he was in charge at Vicarage Road and backed him heavily in the summer transfer market.
However, three wins in 11 outings since mid-December has seen Everton slowly slide down the table and the club’s hierarchy may be forced to act.
According to The Times, former Huddersfield manager Wagner is on the Toffees’ radar having been sacked by the Terriers in January.
He led the Yorkshire club to an unlikely promotion via the play-offs in 2017 before keeping them up against the odds a year later.
Everton’s majority owner Farhad Moshiri has been vocal in his ambitions but has yet to see those manifest themselves on the pitch despite spending in excess of £100m in the last year.
Wagner’s charismatic style has endeared many and the blue half of Merseyside is in need of rejuvenating.
However, Everton could face competition from Newcastle for the German manager.
Mike Ashley is aware of the fragile relationship he has with current boss Rafael Benitez.
Those tensions have been somewhat eased thanks to club-record arrival Miguel Almiron but the Spaniard has rejected one-year and five-year deals in the last 12 months.
Benitez is adored by the Geordie faithful and is viewed as the sole reason the club maintain Premier League status.
The club intend to re-open talks for a third time but have taken steps to ensure they have a contingency plan.
Celtic manager Brendan Rodgers is among the favourites to replace Benitez at St.James’ Park but he does have two years left on his contract in Glasgow.
That is why those in the north west see Wagner as a viable alternative given his immediate availability.