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Everton have completed the club-record signing of Gylfi Sigurdsson from Swansea, for a fee around £45million.

The 27-year-old Iceland midfielder put pen to paper on a five-year contract and becomes the Toffees' eighth summer arrival.

It is thought the move will see Everton pay £40m and a potential further £5m in additional payments, representing a record fee for both clubs.

Swansea had placed a £50m price tag on Sigurdsson’s head prior to formal bids from the Toffees and had been ready to dismiss all offers.

However, the Swans had to accept being open to discussions once the player had signalled he was eager to go.

(Image: Everton FC via Getty)

Talks are said by Wales Online to have left Liberty chiefs frustrated in the extreme, with some sources suggesting Everton ‘moved the goalposts’ over the deal, including one claim that a fee had been agreed more than a week ago only for Merseyside officials to then back down.

Swansea had also previously rejected a £40m package – one that included non-guaranteed add-ons – but it has only been in the past few days that an arrangement came close to suiting both parties, including what is thought to be a ‘healthy’ percentage of up front cash.

The remainder will be paid in instalments.

Swansea were also wary that, after Sigurdsson’s decision to pull-out of the pre-season tour to America just hours before the team’s departure because of the Everton interest – as well as the delay eating into Clement’s chance to recruit – they were in need to put an end to the saga and thus compromise to an extent.

(Image: Everton FC/Getty)

Yet, having made their initial stance, the club also remained eager to show that they would fight for top prices for their stars in case of future attempts to lure key assets.

Swansea will be required to pay Tottenham a percentage of the sale as per the deal that originally brought him back to the Liberty in 2014.

That move valued Sigurdsson at around £8m as part of a swap involving Wales defender Ben Davies.

Spurs are understood to be receiving £4.5m due to a 10% sell-on clause.