Swansea City have completed the signing of Exeter City midfielder Matt Grimes for £1.75million.
The England Under-20 international, who had been linked with a number of Premier League clubs including Liverpool, Everton and Sunderland has signed a four-and-a-half year deal at the Liberty Stadium.
Grimes completed his medical last Friday. It marks a club record for the Grecians eclipsing the £500,00 they received for Martin Phillips in 1995.
The 19-year-old who scored five times in 62 appearances for the League Two club was the first Exeter player ever to be called up by England Under-20s earlier this season along with keeper Christy Pym.
He was also the club’s Player of the Season last term and his style has drawn comparisons with ex-England midfielder Glenn Hoddle.
“He could be a first-class player. He’s played at England Under 20 level, I think he could play at the highest level,” Exeter manager, Paul Tisdale said.
“He’s a very good young player who’s been the pivotal member of our team over the last 12 months.
“We’re prepared for it, we were expecting it to happen, so it’s not a surprise to us, but we will miss a very talented young player who we’re very fond of.
“He’s been a great contributor towards our upturn in form over the last two or three months.”
Exeter hope to reinvest some of the funds earned from the fee to improve facilities at St.James Park and their training facilities.