Silva did an impressive job at Hull after taking the job in January and came close to keeping them up with six wins but they were relegated after the penultimate game of the season.
Hull lost to Crystal Palace to seal their fate and ended up six points adrift.
And Silva was said to have travelled to Portugal earlier this week for talks with Porto but is now back in England after they broke down.
Express Sport understands Crystal Palace are keen on bringing him to Selhurst Park after the shock departure of Sam Allardyce.
However Watford are also interested following Walter Mazzarri’s sacking. Southampton also held a tentative interest with Claude Puel coming under pressure despite finishing eighth and guiding Saints to the EFL Cup final.
Hull are expected to make a statement on Silva’s departure this afternoon.
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