By Alex Stevens

Everton do not expect to finalise a £5million deal to bring Ronald Koeman to Southampton until Tuesday at the earliest, according to a report.

The Merseysiders have been locked in talks with Southampton in recent days as they try and thrash out a compensation package for Koeman.

According to the Press Association, as cited by the Mirror, there is unlikely to be any breakthrough until Tuesday at the earliest while dialogue continues between the two clubs.

Koeman has one year remaining on his contract with the south coast club, and it was claimed last week that the compensation figure is the equivalent of a year’s salary, which is £3million.

However, Sky Sports reported on Monday morning that the sum Everton are set to pay the Saints will be considerably higher, at £5million.

This is effectively a transfer fee to sign Koeman, who is in demand following an impressive two-year spell at Southampton.

The Dutchman has guided the Saints to back-to-back record breaking points totals in the Premier League and this season secured Europa League football.

The former defender is set to earn £6million-a-year at Goodison and will be handed a club record transfer kitty, which is set to exceed £100million.

Bookmaker Sky Bet has suspended its next Everton manager market on Sunday following a wave of large bets on Koeman.

The 53-year-old has been pursued to succeed Roberto Martinez, who was sacked by Everton at the end of the Premier League season.

In other Everton news, Koeman has already shortlisted a Premier League defender to be his first signing at the club.