Everton have completed the £5m signing of defender Joleon Lescott from Wolves.
Lescott's Wolves team missed out on the play-offs in 2005-2006
Lescott signed a four-year deal at Goodison Park, witnessed by Everton manager David Moyes.
The 23-year-old, who has had knee problems in the past, came through a medical, with Moyes hailing him as "the best centre-half in the Championship".
He added: "Joleon is someone we have watched for quite a long time and fortunately this time we have been able to get our man."
Moyes has already secured the signature of striker Andrew Johnson from Crystal Palace for £8.6m.
Lescott, a former England under-21 international, was named the supporters' player of last season but missed out on the chance to play in the Premiership with Wolves in 2003 due to a knee injury.
A product of the club's youth system, he made over 200 appearances for Wolves and scored 13 goals.
Wanderers' chief executive Jez Moxey said: "Joleon has given his all since he joined our academy as a 14-year-old and if there's any player who deserves a chance to play in the Premier League, it's him.
"We are sure he will develop into an exceptionally good Premiership player for Everton."
Moxey added: "Wolves will receive £2m up front, plus another £2m to be paid in instalments over the next two-and-a-half years, subject to Joleon continuing to play football. The remaining £1m is subject to player appearances."