Updated - The club's press release regarding this matter goes as follows;
"In response to press speculation about our manager, Walter Smith, the Board of Everton Football Club reconfirm that they are entirely committed to seeing Everton return to compete with those at the top of the Premier League.
To this end a re-financing package has been negotiated, and agreed giving the Club a long-term opportunity to consolidate its ambitions.
This package will support Walter Smith with new improved facilities at Bellefield and the development of a new Youth Academy, plans of which are currently being discussed with the City.
Budgets are currently being finalised, which will allow the manager funds to develop his first team squad, and to consolidate it with long-term ambition for the Youth Academy.
We hope that this will put an end to further speculation, and that the combined efforts of all Evertonians can be concentrated on supporting Walter and the team, particularly at our match at Stoke on Saturday."