Everton seal Lescott move

Everton have finally completed the signing of Wolves defender Joleon Lescott.

Everton have finally completed the signing of Wolves defender Joleon Lescott.

The 23-year-old has penned a four-year deal at Goodison Park after The Toffees rubber-stamped the move.

Everton originally agreed a fee for Lescott some two weeks ago, but the move stalled as the Merseyside club thought over the deal.

However, any concerns have now been dispelled as the deal - which could cost Everton up to £5 million - has been completed.

Wolves chief executive Jez Moxey confirmed the transfer was now done.

Moxey explained: "Wolves will receive £2 million up front, plus another £2 million to be paid in instalments over the next two-and-a-half years subject to Joleon continuing to play football.

"The remaining £1 million is subject to player appearances.

"Bearing in mind the loss of the Premiership parachute payment the money raised through this transfer will help secure the club's financial stability.

"Joleon has given his all to Wolves since he joined our academy as a 14-year-old and if there's any player who deserves a chance to play in the Premier League, it's him.

"Joleon has been an outstanding player for Wolves - we regret that he is leaving and that he never had the opportunity to play for Wolves in the Premier League in 2003-04 because had he been fit that season who knows where we would have finished?

"We are sure he will develop into an exceptionally good Premiership player for Everton."