The 16-year-old became the Toffees' youngest ever player last season, when he came on as a late substitute in a 3-0 FA Cup victory against Sheffield Wednesday in January.
According to The Athletic, Everton are keen to tie Small down to a long-term professional contract, although the left-back cannot sign it until his 17th birthday on August 1.
Despite this, Small is currently reluctant to agree terms on a new deal as he is not convinced that he would be guaranteed regular first-team football, with both Lucas Digne and Niels Nkounkou seemingly ahead of him in the pecking order.
The report also states that Small was absent from Everton's first week of pre-season training and has recently parted company with his agent, with new representatives discussing his future at Goodison Park.
United, Arsenal and Bayern have all expressed their interest in the teenager, but the Toffees are confident that they can persuade the defender to stay in Merseyside. body check tags ::