Jones rejoins Wolves

Saints sign Smith

Wolves have confirmed the signing of goalkeeper Paul Jones from Southampton for £250,000.

The 36-year-old Welsh international underwent a medical at Molineux on Wednesday and has signed a two-and-a-half-year deal.

"I'm delighted to be back.You don't spend five years at a club and then forget about it," said Jones.

He challenges Michael Oakes and injured England Under-21 star Matt Murray for the first-team keeper's jersey.

It is the third time Wolves boss Dave Jones has bought the player - who played for Wolves for five years from 1991 - having also signed him for previous clubs Stockport and Southampton.

"I've got a lot of fond memories of my time here and it's nice to see a few familiar faces about the place. And, of course, I know the gaffer well from when we were together at Stockport and Southampton," said Jones.

Wolves boss Jones told the club's official website, www.wolves.co.uk: "For me it was a massive mistake when Wolves let Paul go.

He has done a great job for us but we could not stand in the way of this move Liverpool boss Gerard Houllier

"I think that knowing this is the third time that I've signed him shows the faith that I have in him."

Wanderers needed special dispensation to sign Jones before the end of the transfer window on Saturday because technically he was still on loan at Anfield.

But Liverpool manager Gerard Houllier said: "All of us hold him in the highest regard and we wish him well in the future.

"He has done a great job for us but we could not stand in the way of this move."

Jones has been eased out of the number one shirt at Southampton by Antti Niemi, and Saints capture of Paul Smith from Brentford increases competition at St Mary's.

The Welsh international's contract at Saints ended this summer.