It's a blow to Southampton and a boost for Everton as Ronald Koeman looks set to be unveiled as the new boss at Goodison Park.
And according to The Telegraph's Chris Bascombe the move is a huge moment in Everton's recent history, especially with greater spending power since the takeover by Farhad Moshiri.
"We've been waiting with bated breathe to see whether the Moshiri takeover was going to be the game-changer and I think what's happened with Koeman proves it is," he told Off The Ball.
"It's almost a situation where they've said 'that's the guy we want and we're going to make him an offer we can't refuse'. That is different territory for Everton for the last 10-20 years. Historically that's what Everton used to be. It used to be one of the millionaire clubs [in the 1960s] back in the day."
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