Ronald Koeman has admitted that something needs to change if Everton are to "meet the expectations at this club" after exiting the FA Cup on Saturday afternoon.

The Toffees saw a one-goal lead in the second half evaporate as they slipped to a disappointing 2-1 third-round defeat to Leicester City at Goodison Park.

A frustrated Koeman spoke of the challenges that he and his players still face following a mediocre campaign to date, claiming that defeat to Leicester should be enough to highlight the extent of the rebuilding job he has on his hands.

"I know what we need to change and if everyone opens their eyes today maybe we will get further on our improvement as a team," he is quoted as saying by the Liverpool Echo. "Because that's really what we need and that's all about what happens this month.

"I have that in mind and the board knows because we spoke together about what we need. That's the job of Steve Walsh and it's my job. I hope everybody realises what the team needs to play and to get results that meet the expectations at this club.

"I can explain more but I don't like to because that's talks we need to do inside. But if a young player of 18 is today one of the best on the pitch then it says enough."

Koeman brought in Ademola Lookman from Charlton Athletic for £11m earlier this week and is understood to have made bids for Manchester United duo Memphis Depay and Morgan Schneiderlin.