Everton have signed Jordan Pickford from Sunderland in a club-record deal that could rise to £30million, the goalkeeper signing a five-year contract.
England Under-21 international Pickford joins for an initial £25m, with a further £5m payable if team and individual performance targets are met.
It represents the third-highest fee globally for a goalkeeper and a follows a season in which Pickford was nominated for the PFA Young Player of the Year Award following a string of impressive displays in a season that ended with Sunderland being relegated.
The keeper told Everton's official website: "It's great to sign for the club. Last season was my first in the Premier League so to get this opportunity with Everton now, to be able to go forward with my career and show everyone what I can do with Everton is unbelievable.
"It's a great club, a massive club and I think it's a great opportunity and the right time for me to come to Everton and show what I can do.
"This is an exciting time for the club and for me, too, with the ambition being shown. I just want to be the best I can be to help.
"I've just got to show people what I can do, keep training and working hard and when it comes to game day, produce what I can do - making match-winning saves, showing what my distribution is like and making the right saves at the right times."
Manager Ronald Koeman branded Pickford "a significant signing" and is banking on him continue to build upon a solid debut season in the top flight.
"I'm really pleased we've made what I'm sure will be a significant signing for Everton Football Club," said the Dutchman.
"Jordan is a very talented young professional who also has a real hunger for success, and that's important for us as we now look to make further progress in the seasons ahead.
"We've seen the quality he has through his performances in the Premier League last season and, given his young age, we're sure he will get even better."