Chelsea have agreed a fee for Nigerian starlet John Obi Mikel, bringing an end to a protracted transfer saga with Manchester United.
The Premiership champions will part with £16 million for the 19-year-old, with parent club Lyn receiving £4 million and The Red Devils the other £12 million.
Mikel had agreed a deal with Sir Alex Ferguson's side before backtracking and claiming he had been pressured into the agreement, and the Nigerian international has now achieved the move he desired.
Announcing the deal, Chelsea's fifth of the summer following Michael Ballack, Salomon Kalou, Andrei Shevchenko and Hilario, a statement called for a line to be drawn under the controversial affair - with Mikel now free to concentrate on his future at Stamford Bridge.
"Chelsea Football Club, Manchester United, FC Lyn Oslo and Jon Obi Mikel have reached a settlement to resolve the future of the player," read the statement.
"Mikel's registration will be transferred from Lyn to Chelsea FC as soon as possible. United have also agreed to terminate their option agreement with Mikel.
"Under the terms of this agreement Chelsea will pay United £12 million, half payable now and half in 12 months, and Lyn £4 million, half payable now, and half payable in 12 months time.
"As a result of this settlement all claims in this matter, which Chelsea were never an official party to, are now withdrawn.
"The payments do not in any way imply the acceptance of any such claims and have been made solely so that Mikel can resume his career.
"United will support Chelsea in any work permit application if necessary.
"All parties have agreed that there will be no further comment on the settlement or any of the allegations or claims."
Mikel is now expected to be unveiled as a Chelsea player within 24 hours.