Rangers have completed the permanent signing of Ryan Kent from Liverpool in a deal worth up to £7.5m on a four-year contract.
The 22-year-old returns to Ibrox after a successful loan spell last year in which he won the PFA Scotland Young Player of the Year award.
Sky Sports News understands that £6.5m of the fee is guaranteed and £1m is in add-ons.
"I am delighted to be back here," Kent told Rangers TV. "It has been a quite a long summer, a lot of things could have potentially happened but I am delighted to be here.
"I won't lie it has been incredibly tough over the summer but I am a mentally strong person as it is anyway.
"I knew if I kept myself correct something good would happen soon and I have been ticking over, keeping myself to myself and this has happened now and I'm over the moon.
"I got a feel for what it was to be a Rangers player, I felt like there was unfinished business from last year and I am hoping to put that right."
A 20 per cent sell-on clause is also included in the deal, which Sky Sports News understands to be important as there is a belief at Liverpool that Kent will return to England and the Premier League at some point in the future.
Throughout the summer Rangers have made it known they wished to loan Kent and after Leeds had a final bid of £4.5m rejected the day before the English transfer window shut, manager Steven Gerrard revealed that Kent was his No 1 target.
Liverpool received a number of enquiries from foreign clubs, rejecting a £5m offer from Krasnodar two weeks ago, and there was interest in the player from France and Belgium.
Kent was keen to leave Liverpool before the close of the European transfer window and also attracted interest from Belgian team Club Brugge.
However, he had his heart set on a return to Rangers to work with Gerrard and the club have made a Deadline Day move to complete the deal.
Kent made 27 league appearances for Rangers last season, scoring six goals and providing four assists.
His return will give Gerrard's side a massive boost after their 2-0 defeat to Celtic in the first Old Firm clash of the campaign on Sunday.
Why did Rangers want Kent back?
Gerrard spoke very fondly of Kent during last season and throughout the summer as he tried to lure the winger back to Ibrox following a stellar campaign last time around.
Kent's pace and trickery down the left proved hugely effective in the big games last year, as shown in Rangers' 1-0 win over Celtic in December in which he provided the assist for Ryan Jack.
Ibrox can be an intimidating environment for a young winger, but Gerrard and Rangers fans took to Kent because of his fearlessness, his determination to beat his man and drive at defences, as well as his willingness to press opponents and chase back when an attack broke down.
Gerrard tweaked his formation as the season wore on and Kent found himself occupying a more narrow position behind the striker but that did not diminish his output, scoring and putting in an outstanding performance for 10-man Rangers as they narrowly lost 2-1 to Celtic at Parkhead in March.
He also now has experience in the Europa League, impressing home and away in some memorable European evenings as Gerrard's side just missed out on qualifying from the group stages last term. That experience will be invaluable now after Rangers successfully navigated their way past Legia Warsaw in their final second-leg qualifier.