Manchester United and Arsenal are interested in luring the 16-year-old away from Goodison Park, while Bayern Munich are also monitoring his situation.
Small is yet to return to training, missing the full first week under new Everton manager Rafa Benitez and opting to undertake one-on-one training sessions with a private strength and conditioning coach.
The Toffees have prepared a first professional contract for him ahead of his 17th birthday on August 1, and he had been given a locker in the first-team changing room at Finch Farm.
However, everything is pointing towards an exit as it stands.
Small became Everton’s youngest ever player when he replaced James Rodriguez at Goodison Park for the final five minutes of an FA Cup fourth-round tie with Sheffield Wednesday in January, but he could have played his last game for the club.
With Lucas Digne and Niels Nkounkou seemingly ahead of him in the pecking order, no one can blame the left-back if he genuinely feels his development would be hindered by remaining with the Toffees.
However, moving to Man Utd, Arsenal or Bayern after forcing an Everton exit could be a case of jumping out of the frying pan into the fire for Small.
The trio boast star-studded defences, and he has a slim chance of getting into the first-team picture soon at any of the clubs.
The youngster’s best chance of developing would be at Everton, but recent events hint at an imminent exit.