Everton may have kept Frank Lampard in the Goodison Park hot seat as the club's 'dire' financial situation means they do not want to pay him off, journalist Dean Jones has told GiveMeSport.

Lampard was appointed as the Toffees' boss last January, but a poor run of form has resulted in the pressure increasing.

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Everton manager news - Frank Lampard

According to The Mail on Sunday, Lampard is on the brink of losing his job after Everton were condemned to a 2-0 defeat by fellow strugglers West Ham United on Saturday.

A Jarrod Bowen brace resulted in the Toffees returning to Merseyside empty-handed, while Lampard reacted to the latest setback by admitting ‘we are in tough times’ and his side are not too good to suffer relegation.

It is understood that a boardroom meeting was held on Friday, where the Everton hierarchy discussed the potential scenarios and a change in the dugout.

But, while leaving the London Stadium after the loss to West Ham, owner Farhad Moshiri insisted ‘it’s not my decision’ when asked whether it was time for Lampard to be axed.

The 44-year-old has led Everton to just 12 wins from 44 matches at the helm, while the Toffees have suffered a further 24 defeats along the way.

What has Dean Jones said about Lampard?

Jones believes Lampard is fortunate not to have already been shown the door by the Everton hierarchy after a wretched run of form has left the club fighting for their Premier League survival.

But the journalist feels the ex-Chelsea chief may not be sacked today as his pay-off would have an impact on the Toffees' budget for the remainder of the transfer window.

Jones told GiveMeSport: "The issue around Lampard right now isn't really to do with the job he's doing - in normal circumstances I think he would be gone by now.

"But Everton's financial state is so dire that to pay him and his staff off will have an impact that will be felt in other areas, even recruitment. It's a pretty worrying time for fans."

Read more: January Transfer Window 2023: When Does It Begin, Rumours and Everything You Need To Know

Who could replace Lampard if he is sacked?

According to the Telegraph, Moyes could be installed as the favourite to move into the Everton hot seat if he is axed by West Ham or Lampard is sacked.

However, respected journalist Simon Phillips recently told GiveMeSport that the Merseyside outfit would be taking a ‘backward step’ if they opted to welcome the Scotsman back to Goodison Park nearly a decade after his first spell in charge came to an end.

Sean Dyche is understood to be keen on succeeding Lampard, having been out of work since leaving Burnley last year, while two-time caretaker boss Duncan Ferguson would be willing to throw his name into the mix.

But former Everton striker Wayne Rooney, who is currently in charge of Major League Soccer franchise DC United, has cooled talk that he is set to return to his boyhood club as their next manager.

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