- 35 updates
David Moyes is odds-on to win a trophy for Manchester United next season, according to Ladbrokes.
- 5/6 to win any trophy with Manchester United next season.
- 15/8 to win the Premier League next season.
- 25/1 for Moyes to say "knock Liverpool off their perch" in his first press conference.
- 4/11 for Moyes to be in charge of Manchester United at the end of next season.
Everton chairman Bill Kenwright told Sky News: "Manchester United are very lucky and it will be a hard day for all Evertonians to say goodbye."
Chelsea's interim manager Rafael Benitez, who was a Merseyside rival of David Moyes during his time as Liverpool manager, said: "He's a good manager."
"I think that he will have a very good team, so I'm sure he will compete at the top and he can win trophies with a big club.
"It's not easy to find someone like Ferguson, but he's a manager with experience in the Premier League. He knows the players, he knows the club and the Premier League.
"It could be a good appointment, but it takes time to say."
Outgoing Chief Executive David Gill said: "I’m delighted that David has agreed to join Manchester United. He has done a terrific job at Everton and has all the qualities that we are looking for in a manager to succeed Alex."
Ed Woodward, who will become Manchester United's chief executive in the summer when David Gill steps down, said David Moyes "is cut from the same cloth" as his predecessors at Old Trafford.
Manchester United owners Joel and Avie Glazer have welcomed David Moyes to the club, paying tribute to the former Everton manager:
Sir Bobby Charlton said: "I have always said that we wanted the next manager to be a genuine Manchester United man. In David Moyes, we have someone who understands the things that make this such a special club.
“We have secured a man who is committed to the long-term and will build teams for the future as well as now. Stability breeds success.
“David has tremendous strength of character and recognises the importance of bringing young players through and developing them alongside world class talent.
"At United, I think David will be able to express himself. I’m delighted he has accepted and I’m looking forward to working with him.”
Everton manager David Moyes has signed a six-year deal with Manchester United, replacing Sir Alex Ferguson.
He will start his contract on July 1st.