Everton announced the signing of Brazilian forward Richarlison from Watford on Tuesday in a deal reported to be worth up to £50 million.
Richarlison, 21, moves to Goodison Park on a five-year contract and will reunite with manager Marco Silva, who brought him to Premier League while in charge of Watford last summer.
Sources told ESPN FC last week that Everton would pay an initial £40m for Richarlison, and the BBC and other outlets reported on Tuesday that the deal could reach £50m with add-ons.
The full fee would eclipse Everton's previous transfer record, set when they paid Swansea City a reported £45m for Gylfi Sigurdsson last summer.
Richarlison made an eye-catching start to life in English football last season, scoring five goals in his first 12 Premier League matches.
However, after the last of those goals came in a 2-0 win over West Ham United on Nov. 19, he did not score again for the rest of the season, while each of his four assists in the Premier League came before Christmas.
👤 | He's here. 🇧🇷 pic.twitter.com/hognbA2gBB
— Everton (@Everton) July 24, 2018
"I want to have a lot of success with Everton," Richarlison told Everton's website. "I think it is going to be important for me here to be with Marco Silva again. I will learn more because I am still learning as a player and I aim to develop and grow here.
"Everton have put their faith in me and I intend to honour this shirt and demonstrate on the pitch why I came here.
"I've known the manager for a while obviously, so I know how he works. I developed really well with him while he was with me at Watford. It was really good working with him and one day I believe he can help me to be selected for Brazil in the full national team.
"But that is for the future and my present is here with Everton. I want my dreams to become a reality here at one of the biggest clubs in England."
Despite the high fee, Silva said Richarlison would still have to compete for his place in the Everton XI.
"The competition between our players is really important to me. This is what will make us better as a club, always that competition within the squad," Silva told Everton's website.
"The player himself is fast, strong, very good technically and he can play in three positions across the front line. He can also score goals."