Ronald Koeman Named Everton Manager: Latest Contract Details and Reaction

Ronald Koeman has been appointed manager of Everton after agreeing an exit from Southampton, Everton announced on Tuesday. 

The Dutchman arrives at Goodison Park as a replacement for axed boss Roberto Martinez.

The Press Association's Simon Peach reported on June 5 that Everton would have to pay Southampton a compensation fee of £5 million in order to bail their new boss out of the last year of his Saints contract.

As noted by OptaJoe at the end of the 2015-16 campaign, Koeman leaves St. Mary's Stadium as the most successful Southampton manager in Premier League history:

The 53-year-old had the Saints contending for UEFA Champions League football last season, though they ultimately ended up in sixth place. Still, that was enough to secure their place in the UEFA Europa League group stage.

British-Iranian businessman Farhad Moshiri recently purchased a majority stake in Everton and is expected to make big investments in the Merseyside outfit, which presumably helped in luring Koeman to the club.

The Telegraph's Jeremy Wilson reported at the start of June that Everton had opened talks with Koeman amid concerns he had with Southampton's resources and their policy on selling key players.

Wilson also mentioned Everton would have the means to offer a "far bigger salary," an "enhanced transfer budget," and the infrastructure at Goodison Park has the potential to push them up the Premier League ranks.

Southampton finished just three points below both fourth-placed Manchester City and fifth-placed Manchester United, but it will not be Koeman who now leads the club into their continental charge.

This comes after the BBC's Tony Husband reported he heard Koeman proclaim he would see out the remainder of his Southampton contract—which wasn't set to expire until 2017—at the very least:

The Toffees finished 11th in the Premier League last season, five places and 16 points lower than the Saints, but Koeman was nonetheless tempted by their project and the direction in which the club is moving.

According to Transfermarkt, the former Feyenoord, Ajax and Benfica boss boasts a career win percentage of 54.5 per cent, losing 24.3 per cent of matches in his 16-year career as a manager thus far.

One of Koeman's first priorities as Everton boss will be convincing club-record signing Romelu Lukaku to remain at Goodison Park after he confirmed in May he's considering an exit, per the Daily Star (h/t Sky Sports' Paul Vinnell).