Newcastle have completed the transfer of Lewis Hall from Chelsea on loan with an obligation to buy in deal worth up to £35m.
The club will pay £28m to Chelsea on completion of the season-long loan, with potential £7m in add-ons.
Hall, a boyhood Newcastle fan, said: "I'm very proud. Me and my family are Newcastle fans, and for me and my brother growing up, it was drilled into us that we were Newcastle. It's a big club and I can't wait to get started.
"I got a lot of experience last year in some big fixtures and I was really proud of the way I progressed as a player and a person. To now be here at Newcastle, the club that I've supported since I was a kid, I'm honoured and very proud to wear this shirt.
"It's very exciting. When you look back on last season and the way the team performed - not just the results, but the performances the team were putting in - it was amazing.
"There's so many talented players and we've got the Champions League now as well so there's many different competitions that I know the team will be wanting to do well in, and hopefully get a trophy or two as well."
The deferred payment allows Newcastle to comply with FFP restrictions this summer. Howe said last week that they would have to be creative to sign another player.
The 18-year-old recently agreed in principle a new long-term contract with the Blues. Hall, who has featured for England U21s, made his Premier League debut for Chelsea last season and went on to make nine appearances in the top flight.
Head coach Eddie Howe said: "I'm delighted to welcome Lewis to Newcastle United. He is a player we have tracked closely, as have a number of clubs, so it's very pleasing to secure him and to add a player of his quality, versatility and high potential to our squad.
"I'd like to thank everyone involved for their tireless work to bring in the players we have.
"A lot of time, effort and resource goes into a transfer window, but we have a real togetherness at all levels here and I appreciate that teamwork and support."
Have Newcastle moved on from Tierney? | Arteta: He's part of our plans
Last week, Sky Sports News reported Newcastle retained an interest in Arsenal full-back Kieran Tierney.
The 26-year-old was left out of the matchday squad for the season opener against Nottingham Forest at the weekend.
Matters have been complicated with new Gunners signing Jurrien Timber facing a lengthy spell on the sidelines after suffering an anterior cruciate ligament injury during the 2-1 victory against Forest.
However, Arsenal boss Mikel Arteta hinted in his press conference ahead of his side's Monday Night Football game against Crystal Palace that the Scotland international was still part of his plans going forward.
"He played the [Community Shield] final, no? A player that plays five days before in the final is part of the plans, for sure.
"I hope so [he is disappointed to be left out of league squad]."
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Inter target Chalobah out for a few weeks
Trevoh Chalobah is expected to be out for a few more weeks with a hamstring problem.
The Chelsea centre-back hobbled off during the pre-season game against Fulham in the USA and his injury has now been fully assessed.
Chalobah's injury is not serious, and he is expected to be back to full fitness before the end of the transfer window - opening up the possibility of a move towards the end of August.
Chalobah's future has been uncertain this summer, with huge competition for places in Mauricio Pochettino's plans.
The club have two left-footed centre-backs in Benoit Badiashile and Levi Colwill.
Chalobah has interest from other clubs and Chelsea may be willing to listen to offers in the final weeks of the window.
Sky in Italy say he is on the list at Inter Milan along with a number of other Premier League centre-backs.
Omowa
1
Not true he signed 6 year Chelsea contract few weeks ago, Poch has 4 left backs he choose to sell Hall
Go and check his comment /interview before the move was completed..... He can't bench even bench BURN in the left back and he can't bench JOELINTON in the midfield
PrincePowell
1
Chelsea is selling there good players to other clubs and also busy buying nonsense .
Omowa
1
Not true he signed 6 year Chelsea contract few weeks ago, Poch has 4 left backs he choose to sell Hall
He gave him the six years contract so he can go to crystal palace on loan, but when Newcastle came he decline to go to crystal palace.....
VIKINGSB
1
It is a loan deal bruh.... chillax
With obligation of making the move permanent.
Wuyemnopty
0
It is a loan deal bruh.... chillax
Loan with obligation to buy
Wuyemnopty
0
The player want to leave, no need to keep him. His father and family convinced him to leave. They're all Newcastle fans. Chelsea won't regret anything, there's always gonna be a replacement.
Not true he signed 6 year Chelsea contract few weeks ago, Poch has 4 left backs he choose to sell Hall
Wuyemnopty
2
Chilwell is always injured, Poch chose Maatsen over Hall that's why he was sold
Wuyemnopty
1
Player did not want to leave he signed new six contract few weeks beforehand
Wuyemnopty
0
Todd OUT never seen passer of ball since DeBruyne and they sold him and yes he is better than Chilwell
keoclnpty
1
all the best
jawemrty
0
Chelsea is foosh, how can they sell a good player like that one
Omowa
4
The player want to leave, no need to keep him. His father and family convinced him to leave. They're all Newcastle fans. Chelsea won't regret anything, there's always gonna be a replacement.
Victorspurs
0
It's still baffles me why Chelsea let this lad leave without inserting a clause in this deal. Believe me, it's not a perfect deal.
It is a loan deal bruh.... chillax
VIKINGSB
2
It's still baffles me why Chelsea let this lad leave without inserting a clause in this deal. Believe me, it's not a perfect deal.