Sky sources understand Everton are expected to confirm Ronald Koeman as their new manager on Tuesday Sky sources understand Everton are expected to confirm Ronald Koeman as their new manager on Tuesday

Everton are expected to confirm the appointment of Ronald Koeman as their new manager in the next 24 hours, Sky sources understand.

The Toffees are close to finalising a £5m compensation deal with Southampton for the Dutchman to take over at Goodison Park, according to Sky sources.

It was reported by SSNHQ over the weekend that Koeman had been approached to replace Roberto Martinez with talks between Everton and Koeman's agent Rob Jansen led by majority shareholder Farhad Moshiri.

Koeman will succeed Roberto Martinez (L) if he agrees to join Everton

Before further talks could progress, compensation for the Saints had to be agreed and a resolution seems to be near.

On Saturday, Jansen was quoted in Dutch media saying a deal had been reached for Koeman to become the next Everton boss.

However, Jansen told SSNHQ there was no agreement in place between the two clubs and insisted it was premature to say a deal had been done.

It is understood Everton would be prepared to pay Koeman an annual salary in the region of £6m and give him around £100m to spend in the transfer market this summer.

Southampton enjoyed their best ever Premier League campaign last season

Koeman led Southampton to a sixth-place finish in the Premier League last season, five positions ahead of Everton, with Martinez losing his job as a consequence of the Everton's underachievement.

Everton reached the semi-finals of both domestic cups this season, but Martinez was sacked on May 12 after a slump in their league form and a run of just six wins at Goodison Park in the 2015-16 campaign.

Koeman joined Southampton in June 2014 and led the club to an eighth place finish in his debut campaign in the Premier League.