Swansea have signed winger Scott Sinclair from Chelsea on a three-year contract for an initial fee of £500,000.
The deal for the 21-year-old could eventually be worth more than £1million with appearances and performance-related add-ons.
And Swans boss Brendan Rodgers, who knows Sinclair from their days together at Chelsea, thinks that the move will be beneficial for both parties.
Sinclair was sent out on several loan spells when with Chelsea, with his clubs including Wigan, Crystal Palace and QPR, and the move represents a real coup for the Swans.
"Scott is obviously a player I know well and I am delighted to sign him," Rodgers told the club's official website.
"He is a big talent and has been a sought-after player since he broke onto the scene.
"As far as I am concerned there is no better place for him than Swansea City. With this group of players, style of football and fantastic fans, this will be a great club for his development.
"He is only 21 and still has big potential. I think this will be a good home for him. He is a great signing for the present and the future and joins a group of exciting young players."
Swansea chairman Huw Jenkins added: "While everyone is aware that we run a tight ship here financially, we will always invest in the team when funds are available.
"I think this signing highlights our intent.
"It is also the club's priority to invest in bright, young talent wherever possible and I don't think you will find many young players with the talent Scott possesses."
The deal remains subject to Premier League and Football League ratification, meaning Sinclair, who has represented England at every level up to Under 20, will not be available for Swansea's Carling Cup clash with Barnet on Tuesday.