The England international of course made his name in the English Premier League with the Toffees, before leaving for a huge fee of £24 million to Manchester City.
It is thought that David Moyes might try and lure him back to the club on a loan deal as at the moment, he is not getting much first-team football under Roberto Mancini.
When it comes to the big games, Mancini has opted to leave Lescott on the bench and Kolo Toure appears to have moved up in the pecking order as the third choice centre-back.
If Moyes did bring Lescott in, the wages could be a stumbling block as he is on around £90,000-per-week, so City would have to continue to pay some of his salary.
If they managed to agree terms, then Everton may look to sell John Heitinga and then hope to use his transfer fee to bring more new faces to Merseyside.
Reports suggest that Moyes is keen on signing two strikers, Kevin Gameiro from Paris Saint Germain and Toulouse front-man Wissam Ben Yedder.
We shall see.