Everton have agreed a deal with Premier League rivals Southampton to make Ronald Koeman their new manager.
The Toffees will pay about £5m for the 53-year-old Dutchman, who leaves Saints after two years in charge.
Everton have been without a manager since they sacked Roberto Martinez just before the end of the 2015-16 season.
The Toffees finished 11th in his third year at the club, with the Spaniard having promised Champions League qualification when appointed.
Saints have finished seventh and sixth in their past two seasons.
Koeman, who is on holiday, will take brother Erwin and fitness coach Jan Kluitenberg with him to Goodison Park.
In April, Saints chairman Ralph Krueger said discussions with Koeman over a new deal were progressing "in a very good direction", but added the club was "not in any real hurry".
And last month the former Ajax, PSV Eindhoven and Barcelona defender said he expected to stay with the Saints for the final year of his contract.
Koeman enjoyed an impressive playing career, winning the 1988 European Championship with the Netherlands.
He won the European Cup - now the Champions League - with PSV Eindhoven in 1988 and Barcelona in 1992, scoring the winner for the latter against Sampdoria at Wembley.
He also won four domestic league titles apiece in the Netherlands and Spain and played 763 games for club and country, scoring 253 goals.
Koeman has managed Vitesse Arnhem, Ajax, Benfica, PSV, Valencia, AZ Alkmaar, Feyenoord and Southampton.
He has won the Dutch league with both Ajax and PSV.
Koeman was only booked for this foul on David Platt during a World Cup '94 qualifier - and scored the Netherlands' opening goal soon after
Reaction
Former Southampton and England forward Matt le Tissier said he was "disappointed" and "quite surprised" at Koeman's decision to leave, particularly with Saints playing in the Europa League next season.
"He may feel he has got a better chance of winning trophies at Everton. I'd be of a slightly different opinion," Le Tissier told BBC Sport. "I understand they've got a new owner and want to splash a bit of cash, but it might not be as easy a job as he thinks.
"Most clubs in the Premier League are pretty wealthy now and can compete in the transfer market. We just have to move on and look to the next man to take us forward again.
"The players' loyalty lies with the football club and hopefully they will kick us on again next season."
Ilginch
The Toffees will pay about £5m for the 53-year-old Dutchman, who leaves Saints after two years in charge.
Everton have been without a manager since they sacked Roberto Martinez just before the end of the 2015-16 season.
The Toffees finished 11th in his third year at the club, with the Spaniard having promised Champions League qualification when appointed.
Saints have finished seventh and sixth in their past two seasons.
Koeman, who is on holiday, will take brother Erwin and fitness coach Jan Kluitenberg with him to Goodison Park.
In April, Saints chairman Ralph Krueger said discussions with Koeman over a new deal were progressing "in a very good direction", but added the club was "not in any real hurry".
And last month the former Ajax, PSV Eindhoven and Barcelona defender said he expected to stay with the Saints for the final year of his contract.
Koeman enjoyed an impressive playing career, winning the 1988 European Championship with the Netherlands.
He won the European Cup - now the Champions League - with PSV Eindhoven in 1988 and Barcelona in 1992, scoring the winner for the latter against Sampdoria at Wembley.
He also won four domestic league titles apiece in the Netherlands and Spain and played 763 games for club and country, scoring 253 goals.
Koeman has managed Vitesse Arnhem, Ajax, Benfica, PSV, Valencia, AZ Alkmaar, Feyenoord and Southampton.
He has won the Dutch league with both Ajax and PSV.
Koeman was only booked for this foul on David Platt during a World Cup '94 qualifier - and scored the Netherlands' opening goal soon after
Reaction
Former Southampton and England forward Matt le Tissier said he was "disappointed" and "quite surprised" at Koeman's decision to leave, particularly with Saints playing in the Europa League next season.
"He may feel he has got a better chance of winning trophies at Everton. I'd be of a slightly different opinion," Le Tissier told BBC Sport. "I understand they've got a new owner and want to splash a bit of cash, but it might not be as easy a job as he thinks.
"Most clubs in the Premier League are pretty wealthy now and can compete in the transfer market. We just have to move on and look to the next man to take us forward again.
"The players' loyalty lies with the football club and hopefully they will kick us on again next season."
Ilginch
