Newcastle have announced the signing of Anthony Gordon from Everton for a fee understood to be £40million, plus £5m in add-ons.
The Magpies had made the winger a top priority going into the final week of the January transfer window with Eddie Howe desperate to bolster his attacking options.
Gordon had effectively gone on strike to force a move away from Everton, his boyhood club having failed to turn up to training for three days this week.
The Toffees had initially wanted £60m after quoting that fee to Chelsea in the summer, when the Blues tried to sign him.
Although the transfer fee hasn’t been disclosed by either club, talkSPORT understands Newcastle have managed to whittle them down to nearly a quarter of that price off, agreeing to pay £40m up front and then £5m in add-ons.
“Since I heard of the interest, I was always convinced Newcastle were for me,” Gordon told NUFC TV.
“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.”
Magpies boss Eddie Howe added: “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.”
It gives Howe the attacking reinforcements he had demanded following the exit of Chris Wood, who joined Nottingham Forest on loan.
Gordon can play along the entire front-line and gives the Magpies another threat as they look to secure a position in the Premier League top four.
The 21-year-old has been regarded as one of the best young English players in the country, though has managed just three league goals this season in a struggling Everton side.
But the funds are expected to be handed to incoming boss Sean Dyche, who has been already been told to look at West Ham star Michail Antonio.
The Toffees will have to be quick if they are to get a replacement in by deadline day on Tuesday with the club languishing in 19th.
Newcastle, meanwhile, are currently third in the Premier League and are hoping to play in the Champions League next season, where they will be able to flex their financial muscles in the summer transfer window.
They are also looking to reach the Carabao Cup final, having beaten Southampton 1-0 in the first leg of their semi-final tie.
The second leg is set to go ahead on Tuesday at St. James’ Park, where Gordon could make his debut.