Anthony Gordon has completed his move from Everton to Newcastle United.
Newcastle are reportedly paying £40million up front to Everton, with an additional £5m payable in potential add-ons.
Gordon was the subject of intense interest from Chelsea at the start of this season, but Everton rejected their advances and had been hoping to tie the young forward to a new deal.
However, Newcastle and Tottenham also enquired over the 21-year-old, and the Magpies solidified their interest this month.
Gordon has signed what has been described as a "long-term" contract at St James' Park, becoming Newcastle's first signing of the January transfer window as Eddie Howe's team look to push on for Champions League qualification.
The new recruit said: "Since I heard of the interest, I was always convinced Newcastle were for me."
Speaking to NUFC TV, Gordon added: "I think the fan base and the city really suits me as a person, the way the team are playing under the gaffer at the minute really suits me, and the club just look like they're heading in the right direction.
"I feel like it's a really big step. People haven't seen what I'm capable of yet. I think under the gaffer, and the way the club's going, I can really excel here."
Newcastle head coach Eddie Howe expects big things, saying: "I'm delighted to sign Anthony – he's a top, top talent.
"I'm really excited to work with him, to develop him, and I'm looking forward to seeing what he can do in a Newcastle shirt."