Blackpool have signed Wycombe Wanderers winger Matt Phillips for an initial fee of £325,000.
The 19-year-old has joined up with Ian Holloway's side after impressing for the England Under-19 side this summer and could eventually cost the Seasiders close to £700,000.
Wycombe manager Gary Waddock said: "It's a great opportunity for Matty to play in the Premier League and we couldn't stand in his way.
"He is an outstanding prospect and I'm sorry to lose him but it's a great move for him and excellent business for the football club."
Wycombe will receive a further six-figure payment if Blackpool remain in the top flight next season and the move is seen as good business by the npower League Two club.
Club owner Steve Hayes told the club's official website, www.wycombewanderers.co.uk: "How could we deny him the chance to further his career by playing for a Premier League club?
"We offered him a new, long-term contract several months ago but he was reluctant to commit himself and once Blackpool came in he wanted to go.
"We believe we have negotiated a realistic fee for a player who wasn't a first team regular."
Phillips has made 87 appearances for Wycombe, scoring nine goals, and will now make the move to Lancashire.Reuse content