"I'm surprised they let me go" (BBC Radio 5 Live)

The 6ft 4ins Scot will cost Newcastle an initial outlay of £7m, with Everton set to collect another £1m when he has played 30 games.

"Everybody knows that Alan Shearer is one of the best players in Europe and I'm looking forward to teaming up with him. I think it will be a good partnership," said Ferguson, who has agreed a five and a half year contract.

Gullit: Looking to revive Newcastle's fortunes

"I know there's a big history about this club. It's the same as my last club, the supporters are very fanatical and I'm looking forward to getting out there on Saturday and doing my best for them."

Newspaper reports claim Shearer is in favour of the signing, but speculation continues about his own future at St James' Park.

Shepherd "This is Duncan Ferguson's day, not Alan Shearer's day"

Club chairman Freddy Shepherd refused to allow questions about Shearer during a news conference to confirm Ferguson's arrival.

Ferguson said he was surprised Everton were willing to sell him, a decision taken behind the back of manager Walter Smith, who came close to resignation over the issue.

He will wear the number 20 shirt and will make his debut in the home game against Wimbledon.

Coach Ruud Gullit revealed he had been interested in signing Ferguson during his time in charge at Chelsea.

Alan Shearer: Where does his future lie?

"In my previous job, I was sniffing to get him there. He's a very good player, not only because of his height but because of his football skills. He's a class player and he will give the team an extra boost.

"I think he will do also for the fans. I'm sure that the fans will love him," said Gullit.

Ruud Gullit: A lot of people underestimate Ferguson

He claimed earlier this week that the club only had £7m available for transfers, but Shepherd said they would continue to try and provide funds for further signings.