Kevin Phillips has revealed he expects Everton to try to sell Gylfi Sigurdsson to raise funds for new manager Carlo Ancelotti but suggests a major hurdle to a deal.

Speaking exclusively to Football Insider, the ex-England striker warned it could be difficult for the Merseysiders to recoup anywhere near the fee they paid for the Icelandic playmaker three years ago.

Football Insider earlier this month that Everton are ready to listen to offers for Sigurdsson and will offload him if they can recoup a significant portion of the £45million fee they paid to Swansea City in 2017.

Phillips is in no doubt Everton overpaid for Sigurdsson even though he rates him as a Premier League performer.

“He’s a good player but he’s obviously come for a very big price,” Phillips told Football Insider. “It was £50 million, wasn’t it? That surprised a lot of people and it surprised me if I’m honest.

“I thought they paid way over the top but he’s never really lived up to that price tag so, could you potentially get him off the wage bill that frees up some cash for Ancelotti to go and spend elsewhere?

“It’s always difficult because who’s going to pay? They’re never going to get £50million for him so it’ll be interesting to see how that one unfolds.”

The playmaker has been a mainstay of the team since signing from Swansea even though he missed last night’s 2-2 draw against Newcastle United.

He has been a regular goalscorer and creator, netting 22 times and supplying 13 assists from 98 matches for Everton.

But Sigurdsson has not been as influential as he was for his former club, scoring 37 goals and providing 30 assists in 131 matches for Swansea.

In other Everton news, it can be REVEALED that two offers have been submitted for Goodison first teamer as Ancelotti faces crunch decision.