Ronald Koeman has agreed to become the new manager of Everton, in a deal financed by the club’s new owner Farhad Moshiri, with Southampton now considering either Eddie Howe or the Sevilla manager Unai Emery as his replacement.

Southampton offered to make Koeman the highest-paid manager in their history with a two-year extension deal that would have taken his contract to 2019. The club were unaware that Koeman had changed his position and wanted to leave until Thursday when reports in Holland indicated that there was a major change of heart from the Dutchman.