Everton stalwart Phil Jagielka has praised the £31m summer signing of defender Michael Keane and is happy the Toffees can delve into the transfer market and spend some serious money after years of penny-pinching.

Keane, 24, arrived at Goodison Park from Burnley for an initial fee of £25m, which could rise to £31m if certain bonuses are met. The former Manchester United youth graduate has enjoyed a superb start to life at his new club, swiftly establishing himself as Ronald Koeman's first-choice central defender.

Jagielka's chances of game-time have been decreased as a result of Keane's arrival, but the Everton captain is looking at the greater good rather than his own personal situation and is certain the England international will provide years of "fantastic" service at Goodison Park.

"Michael is a great signing," Jagielka told evertontv. "It is great we can go out there and spend that much money on a defender and strengthen after we had a pretty decent defensive record last year – and we will be looking to improve on it this season.

"I already knew Michael, he does not live too far away from me and I have seen him on the golf course a couple of times! He has played with a couple of the lads for England, myself included, and the transition from Burnley to here was quite easy for him.

"It was pretty easy helping him settle in as well. He is a great lad and is going to be a fantastic signing for us."

Everton manager Koeman was keen to bring in another central defender during the transfer window as he sought cover for Argentina international Ramiro Funes Mori, who will miss most of the season with a knee injury.

The Dutchman's desire to bolster his backline in the near future could further decrease Jagielka's chances of minutes during the twilight of his Everton career, but the former Sheffield United star is embracing his slightly reduced role on Merseyside and is simply pleased to see the club progressing.

"We have been able to bring in players for quite a lot of money," said Jagielka. "As you get further on in your career, you realise you are not going to be first choice all the time.

"It is a different way of looking at football. You have to try to push the others as far as you can. Hopefully, that will make them better – and make me better as well. That is probably the position I will be in – it is something you have to embrace and get used to dealing with.

"As long as the team is moving forward, and you are part of it, that is what is important."

Michael Keane
Keane has settled in well to life at Everton. Getty Images