By Wayne Veysey

7th Jan, 2017 | 6:18pm

Betting update: Everton installed odds-on favourites to sign £31m forward

By Alex Stevens

Everton have been installed odds-on favourites to sign Manchester United winger Memphis Depay in the January transfer window.

Bookmakers Sky Bet price the Merseysiders at 8/13 to land the Holland international despite reports this week strongly linking him with a move to Nice.

The French club are second favourites in the betting at 15/8, a long way ahead of the third favourites Paris Saint-Germain, who are a distant 18/1.

The odds on Depay moving to Everton tumbled after United manager Jose Mourinho revealed on Friday that Depay can leave the club this month if their valuation is met.

The 22-year-old moved to Old Trafford from PSV Eindhoven in the summer of 2015 that the BBC Sport website reported to be worth £31million.

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Depay has made little impact at United and has slipped further down the pecking order under Mourinho, with his eight appearances this season amounting to just 134 minutes of action.

The Dutch forward has not been selected for the team since October and has not even made the matchday squad since November.

By contrast, he was prolific for PSV, where he shot to attention after scoring 50 goals and providing 29 assists in 124 matches for the club.

In the latest Everton transfer news, the Merseyside club are about to seal their second major January signing as big-name player heads in.