Manchester City confirmed the signing of highly-rated youngster Jack Rodwell from Everton for an undisclosed fee.

The 21-year-old signed a five-year contract with the English Premier League champions after City agreed to pay a fee believed to be an initial £15 million ($23.5 million), rising to £18 million ($28.2 million) based on appearances and success.

Roewell's signing was announced just a few hours after City's 3-2 win over Chelsea in the Community Shield at Villa Park.

"I relish the opportunity of playing with some of the best players in the world and continuing my development," Rodwell told the club's official website, before heading off to meet up with the England squad.

"It will be an amazing experience to make my debut in front of them if I am selected to play next weekend.

"The hard work starts today as I start to help contribute to the club winning more silverware. The season has started really well with the Community Shield win."

Rodwell, who came up from Everton's youth ranks, also paid tribute to his old club. "I would like to place on record my thanks to everyone at Everton Football Club," he said.

"The manager has been brilliant for me and helped make me the player that I am today.

"I would like to place on record my thanks to him and all the coaching staff and players who have worked with me since I joined the academy as a seven-year-old.

"Finally I would like to thank all the fans who have been amazing during my years at Everton. I have enjoyed every minute of my time there and I wish everyone at the club the best of luck for the new season and beyond."

City manager Roberto Mancini, who has voiced his frustration at the lack of signing this summer, risked the Everton fans' ire after saying Rodwell was finally moving to a club that plays to win.

"Jack is a good player," the Italian said. "He is young. It is the first time he is in a club that plays to win and it will be different for him.

"But in a couple of years I am sure he will be a top and stronger midfielder. He has good quality.

"Rodwell is a player that needs to improve to play in this XI but he is young and a good player for our future.

"We are interested in all good players. I liked him last season. For this reason, we bought him."

Meanwhile, Brendan Rodgers expressed his delight after Liverpool sealed a move for Joe Allen from Swansea City for a £15 million ($23.5 million) fee.

"Joe will fit into the group very well," Rodgers told the club's official website. "I like technically gifted players, and he is exceptionally technically gifted.

"He's incredible on the ball; his intelligence for a 22-year-old is frightening. His game understanding is very, very good and he's in love with the football. He loves the ball.

"He wants the ball all the time - he has so much courage to get on the ball and play and I think he'll fit in really, really well with all the other clever players we already have here.

"I'm excited about the prospect of Allen fitting in with our front four, because I think even at this early stage, their combination has been excellent.

"But I also like good people and he is a very humble young guy. He knows he is 22 years of age and has an awful lot to learn, but he will be with us every single day in the journey to make this club better.

"He is a very talented boy and he comes into an excellent group. Hopefully we can add one or two more before the end of the window."