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Published 22:08 16 Jan 2017 GMT
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However it remains to be seen whether McCarthy would be keen to join Premier League sides who look destined for a relegation battle... or the SPL.
One option for McCarthy, however, would be a move to Rafa Benitez's Newcastle United.
Benitez is believed to be an admirer of the Glasgow-born midfielder and the Magpies are looking to bolster their midfield options as they bid to make an immediate return to the Premier League.
Reports in the Newcastle Chronicle state that the club are keen on McCarthy but a potential stumbling block would be the pricetag that Everton would place on the midfielder.
It is also believed that the Toffees won't entertain the idea of a loan move so it will be permanent transfer or none at all.
Nevertheless, the odds on McCarthy joining Newcastle have plummeted today and according to Sky Bet, he is now odds-on (10/11) to join the north-east giants.
It wouldn't be a bad move for McCarthy as Newcastle should be a safe bet for an instant return to the top flight and a potential partnership with Jonjo Shelvey may work well for the Toon Army.
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