Moyes will keep us up, says Kenwright

David Moyes was rushed into the Everton managerial hot seat last night after Bill Kenwright, the Goodison Park club's owner and deputy chairman, hammered out a £1m compensation deal with Preston North End.

Kenwright personally handled negotiations, dashing to see North End officials in a successful bid to lower their £3m transfer fee. Even the compromise figure, however, makes Moyes one of the most expensive managers in history at the tender age of 38.

Moyes also wrapped up a four-year deal worth around £700,000 a season after agreeing to take the gamble of swapping a promotion bid for a relegation fight. He has arrived in time to have one training session before Everton's crucial Premiership game at home to Fulham tomorrow. There was a need for haste as caretaker Archie Knox had followed Walter Smith out of the door in the afternoon.

Kenwright hopes Moyes is worth the money and said: "We had four or five names in mind for the position but after meeting David there was only one choice. He thinks he is a winner and I know he is a winner and will keep us up''.

Moyes will take charge on his own and bring in new staff eventually. He may name an unexpected assistant once he gets his feet under the table. There will also be money to spend, with a striker a priority and Crewe's Dean Ashton and Brighton Bobby Zamora high on his target list.