Harry Kewell has completed his move from Leeds to Liverpool.
HOW THE DEAL BREAKS DOWN
Liverpool pay Leeds £5m
Leeds pay Kewell's agent £2m, so only end up with £3m
Kewell gets five-year, £60,000-a-week contract
The 24-year-old Australian forward is thought to have signed a five-year contract understood to be worth around £60,000-a-week.
He will be unveiled at Anfield on Thursday along with the club's other summer signing of Steve Finnan and new arrivals Anthony Le Tallec and Florent-Sinama Pongolle.
Leeds revealed the transfer fee between the two clubs was £5m, and are paying £2m of that to Kewell's camp to ensure the deal did not collapse.
A Leeds United plc statement to the Stock Exchange read: "Leeds
United confirms that it has accepted an offer from Liverpool Football Club for the transfer of Harry Kewell for £5m in cash.
"In order to effect the transfer, Leeds United has had to agree to pay a fee to representatives of Kewell in the sum of £2m.
"The board, having taken appropriate professional advice, felt that it had no option but to accept these terms given the context of Kewell's current contract.
"Kewell currently has only one year remaining of his contract with Leeds United.
"As such he would be in a position to sign a pre-contract agreement with another club in January 2004 and leave Leeds United at the end of the 2003/4 season without any transfer fee being payable."
The move ends months of speculation surrounding Kewell, who has been linked with Arsenal, Manchester United, Barcelona, AC Milan and Chelsea.
Liverpool boss Gerard Houllier said he was delighted the protracted move was finally completed.
"This is a fantastic signing for the club and its fans," he told Liverpool's website.
"After the intense media interest in the player I am delighted we have
finally completed a deal which can only excite our supporters all over the world.
"We had spoken about bringing in players who would have the fans on the edge of their seats and I can't think of a better description for the qualities that Harry will bring to Anfield."
"When you consider the calibre of rival clubs from all over Europe competing for his signature, it's a huge boost for us ahead of the new campaign and an indication of Harry's belief in what we want to achieve here.
"We have worked very hard to bring the player here against intense
competition and I want to pay tribute to (chairman) David Moores, (chief executive) Rick Parry and the board for their efforts.
"Like them, I could not be more delighted at the successful outcome.
"Harry will join up with his new team-mates when we travel to Switzerland for our annual pre-season training camp."