Ronald Koeman confirmed as Everton manager: Big wages, big budget, but will he deliver?

The Toffees new boss has signed a three-year contract at Goodison Park, for a reported £6 million-a-year salary.

"I am very excited to be Everton manager. I believe in the club, in the team, in the fans and in our ability to achieve things in the future," said the 53-year-old.

Koeman took over at Southampton two years ago after previous spells with Ajax, PSV, Feyenoord, Benfica and Valencia.

Chairman Bill Kenwright said in a club statement: "We are really pleased to have secured the man who was our number one target from the moment we set out to appoint a new manager.

"Ronald has such a strong track record in the game, instantly commanding respect for what he achieved as a player and for his qualities and accomplishments as a manager. The hopes and aspirations that we all have as Evertonians are with him, as is our total support at board, shareholder and fan level."

Southampton had confirmed earlier on Tuesday that they had accepted Koeman's resignation - the second time in three years that they have had a highly successful manager poached by a richer club.

Several newspapers reported on Tuesday morning that Everton will give the new manager a vast amount of money to spend.

The Daily Mail even referred to it as the "biggest transfer kitty in Everton's history" - though considering the club's general parsimony over the past decade or so, and the dizzying inflation rate in football right now, that is not saying much.

Yet the very level that Koeman's wages are reportedly set at suggests that no expense will be spared by the Toffees' new owners. If the £6m-a-year reports are to be believed, Koeman is straight into the top 10 highest earning coaches in world football - and he'll also be getting £500,000-a-year more than his Saints predecessor Mauricio Pochettino now receives at Tottenham.

Even before the appointment was confirmed, fans and pundits had been pitching in on social media to give their verdict on a man who has been widely praised for keeping Southampton's momentum up after what might have been a devastating blow in losing Pochettino.

A bigger club, a bigger budget and a bigger set of ambitions brought Koeman to Goodison Park. And as a big man with a big character - first as a player, now as a manager - there is a big chance of big things to come.

Southampton's cup form was poor throughout the season, but their results in the league were stellar. When you look at how much the four clubs around them spent last summer - the two Manchester sides above, West Ham and Liverpool below - the Saints' sixth-place finish in the league last year was almost miraculous. Indeed, they were one result away from a Champions League spot: if they'd beaten Manchester City in November as they went on to do in May, the two sides would have swapped places in the table.

Everton fans ought to be very, very happy about this appointment. The only fear they'll have is that they, like Southampton, will be deprived of his services should he prove as successful as he promises to be.