Preston's acting chairman Derek Shaw told Sky Sports: "David has accepted what Everton have put forward to him and it's now down to the clubs to sort out a compensation package.
"The first offer (from Everton) was a derisory one. We weren't happy with that figure. We've just sold a player (Jon Macken to Manchester City) for £5million and quite frankly we'd rather have the manager.
"It is £3million (the compensation figure Preston are seeking). Personally, I feel that if we've accepted £5million for a player, why can't we have £3million for our manager?" We have worked very fairly with David for several years and, if it all ended up with us falling out, it would not be good for either party.
"We don't want to fall out - and it would be breaking the mould if it gets to a stage where it stops the deal happening - but we want adequate compensation for Preston North End.''