Manchester United chief executive David Gill has defended the transfer fee paid to Tottenham for Michael Carrick.
Carrick cost Man Utd an initial fee of £14m
Gill revealed that the basic fee for the 25-year-old midfielder was £14m, rising to £18.6m depending on the success of the club and the player.
"The figure is £14m and that is appropriate," Gill said on Wednesday.
"There is a premium on English players but we are very comfortable with the fee, we have got a great player at a great price."
Carrick will wear ex-captain Roy Keane's number 16 shirt at Old Trafford, but insisted he felt no pressure to live up to the former United star.
"People are always going to talk about Roy, he is one of the legends in the game, but I'm my own man and replacing him is not something I'm focused on," he said.
"I'm focused on my own game and that's the best way to go for me.
He's a very, very good passer of the ball
"Once I heard United were involved in trying to sign me I wanted to come, simple as that," he said.
"It's a terrific club and I just wanted to come and improve my game, achieve things and win trophies."
Carrick said on Tuesday that the move was made to advance his career.
"It's an offer that has come at the right time - professionally and personally," he said.
"I felt I couldn't turn it down. This is a football decision, a decision not driven by money."
United boss Sir Alex Ferguson said he felt Carrick was an excellent prospect.
"He's a very, very good passer of the ball," he said.
"The good thing is he's been playing English football. He went into a West Ham team very young and most players who come through West Ham get a good education."
The England midfield man is understood to have signed a contract worth around £50,000-per-week.
Carrick paid tribute to Spurs coach Martin Jol after completing the formalities of his switch from White Hart Lane.
He added: "I've had a great time at Spurs and the club has been brilliant for me.
"There is an excellent squad full of top players and a number of younger lads coming through the ranks as well. I can only see successful times for the club in the future."
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£18.6m Michael Carrick
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Carrick had two years left on his deal at White Hart Lane but rejected a new contract offer in the wake of United's persistent interest.
"This is a move that Michael wants to make," Spurs boss Martin Jol told the club's official website."
The sale of Carrick represents a massive profit for Spurs, who signed him from West Ham for £2.75m two years ago.
West Ham are reported to be in for a windfall when the transfer goes through, with a sell-on clause included as part of the deal that took him to White Hart Lane.
Carrick is expected to make his first United appearance in the Amsterdam tournament, probably against Porto on Friday.
The midfielder has won seven England caps, making his debut when coming on as a substitute against Mexico in 2001.
Carrick was part of England's World Cup squad but he made only one appearance in Germany this summer, in the 1-0 win over Ecuador in the first game of the knockout stages.
United manager Ferguson stepped up his pursuit of Carrick once it became clear that the transfer of Red Devils striker Ruud van Nistelrooy to Real Madrid for a reported £10.2m would go through.