Swansea have confirmed the signing of striker Danny Graham from Watford for a club-record fee.
The Barclays Premier League new boys have splashed £3.5million on the 25-year-old hitman, who is set to sign a four-year contract.
Graham was the top scorer in the npower Championship last season with 24 goals and was a reported target for a host of top-flight sides.
The deal for Graham remains subject to a medical, which will be completed when the player returns from holiday.
A Swansea statement read: "The club has today agreed personal terms with Watford striker Danny Graham.
"Graham will sign a four-year contract with an additional 15% sell-on clause to Watford on any profit above the £3.5million."
Swans chairman Huw Jenkins added on club website http://www.swanseacity.net: "Danny has also spoken to [Swans manager] Brendan Rodgers at length.
"He is thrilled to conclude the deal and is looking forward to the challenge of Premier League football with Swansea.
"He is a player we have admired for quite some time and as a football club we are delighted to get our man.
"Brendan is looking forward to working with him and there is no doubt he will strengthen our team for the new campaign."
Graham, who began his career at Middlesbrough, scored 41 goals in 99 appearances for the Hornets since arriving at the club from Carlisle in a £350,000 deal in 2007.
Carlisle are also set to profit to the tune of nearly £500,000 as the result of a 15% sell-on clause in the deal that took Graham to Vicarage Road.
Meanwhile, Swansea are battling to retain the services of Neil Taylor after Newcastle made an undisclosed bid for the left-back.
The 22-year-old Wales international made 30 league appearances last season - including 26 starts - as the Welsh club clinched promotion to the Premier League via the Championship play-offs.
"We have received a proposal from Newcastle regarding Neil," Jenkins said. "But the proposal has not been accepted or rejected at this stage.
"We have received a number of enquiries from different clubs for Neil's services and, like all bids we receive for any of our players, we will be talking it over with him when he returns from a break next week.
"Neil is a player we brought to the club this season from the Conference with Wrexham with a view to him progressing and developing with us over a number of years.
"The last thing on our mind was to sell anyone over the summer."
Taylor began his career in the youth set-up at Manchester City before leaving for Wrexham at the age of 15 due to injury.
After making more than 80 appearances over three years for his hometown club, Taylor joined the Swans last summer on a three-year contract for a tribunal-fixed fee of £150,000 plus 10% of any future transfer profit.
He was a key figure in the Swans' promotion-winning campaign, but missed the play-off final triumph against Reading through suspension after being sent off in the first minute of the semi-final first leg against Nottingham Forest.
Taylor earned his first senior Wales cap under John Toshack in a friendly in Croatia in May 2010.