Manchester United have confirmed the signing of Luke Shaw from Southampton.
The 18-year-old has penned a four-year contract at Old Trafford with the option of a further year. Southampton have confirmed that the left-back is now the most expensive teenager of all time, with reports putting the fee at around £27 million.
Shaw said in a statement on Manchester United's official website: "I am thrilled and excited to be joining Manchester United. I have been at Southampton since I was eight years old and I would like to thank them and the fans for everything they have done for me.
"I want to continue to progress my career and joining United is the ideal place for me to do that. I am looking forward to this new chapter in my life and also looking forward to learning from the world-class players and management at the club."
Shaw emerged as one of the most promising youngsters in the country following Southampton's promotion to the Premier League in 2012, and his performances last term earned him a spot in England's squad for the World Cup. He claimed his first competitive start for the Three Lions in their final group game against Costa Rica on Tuesday.
Manchester United assistant manager Ryan Giggs added: "Luke is a very talented young left-back with great potential. He has developed immensely during his time at Southampton and has all the attributes to become a top player. I am delighted he has joined Manchester United as I believe this is the right club for him to continue his development as a young player and eventually fulfil that promise."
Shaw is the second major departure from Southampton following Rickie Lambert's move to Liverpool, while the likes of Adam Lallana and Dejan Lovren have also been linked with a move away from the south coast. Manager Mauricio Pochettino has also departed, to take over at Tottenham.
Southampton's Executive director Les Reed admits it is a blow to lose Shaw, but insists his transfer fee will be reinvested.
“This deal is a good one for Southampton Football Club, and hopefully sends a clear message to other clubs wishing to bid for our players," he said.
“Luke’s transfer fee will be reinvested into the team as our new manager, Ronald Koeman, builds for the new season and for years to come.”
Shaw is Manchester United's second major signing of the summer following the arrival of Ander Herrera from Athletic Bilbao yesterday. The Spanish midfielder is believed to cost in the region of £28 million - and the club's spending isn't expected to stop there.
New boss Louis van Gaal - who will take over at Old Trafford after the World Cup is over - is said to be targeting moves for a host of players, including Arturo Vidal, Bastian Schiweinsteiger and Arjen Robben.
According to the Daily Mail, Van Gaal hopes to secure the services of at least two more new arrivals before the end of the transfer window.