LONDON • Everton have been told to pay £5 million (S$9.8 million) in compensation for Ronald Koeman, if they want to appoint him as their next manager after talks with rival Premier League side Southampton.

The Merseyside club had hoped to reach a deal yesterday but realistically believe it may be midweek before they are able to name Koeman as the successor to Roberto Martinez, who was sacked last month.

Southampton appear to have increased the amount of money that they want after being angered by Koeman's about-turn over leaving, and Everton letting it be known that they have substantial funds available.

It is understood that Everton are prepared to pay Koeman an annual salary of about £6 million and also hand him a transfer war chest of £100 million to spend this summer.

The Dutchman said as recently as April that he would stay for the final year of his deal and then went on to verbally agree a new contract.

Southampton were convinced that he would sign a new deal shortly after the season ended.

Should Koeman leave, the south coast side would refuse to allow any players to follow him to Goodison Park.

Fraser Forster, the goalkeeper, has been linked with a move.

Southampton have shortlisted Eddie Howe as a possible successor, although it would take some persuasion for him to leave Bournemouth.

The Saints tried to hire him as the successor to Alan Pardew in 2010 but were turned down and they appointed Nigel Adkins instead.

Unai Emery, the Sevilla head coach, could be another option, although he rejected a move to West Ham last summer and signed a new deal at the Spanish club.

Southampton mapped out a new five-year plan to persuade Koeman to stay at the club when contract talks began in January.

He cut a frustrated figure at the time amid concerns about the club's ambition and how much he could spend if Victor Wanyama and Sadio Mane are sold, as expected, this summer.

THE TIMES, LONDON