Former Blues midfielder Flynn Downes has completed his move from Swansea City to West Ham United, a deal which will yield Town a seven-figure sum.
The 23-year-old has moved to the Hammers, the club he supported as a boy, for an initial £9 million with the fee potentially climbing as high as £14 million according to some reports.
Town sold the academy product to the Swans for £1.4 million a year ago with the sell-on clause we understand to be be 20 per cent of profit.
That will see the Blues yield a figure around £1.5 million - although in the manner of most transfers in instalments - with further cash due later on down the line as and when clauses are triggered.
"It’s a surreal feeling to have joined my boyhood club,” Downes, who has signed a five-year contract, told the Hammers official website. "I feel like I’m dreaming.
"It’s been my dream since I was a little boy to join this club - it’s an absolute privilege. This is my club, so I couldn’t be more delighted. I’m glad to be here and I can’t wait to get started.
"I want to be the best I can be and this feels like the perfect opportunity to test myself against the very best players in the Premier League.
"Players have come to West Ham from the Championship and progressed to international honours. That’s something you can’t ignore.
"The manager’s track record of bringing players through was a big motivation in me joining the club. I’m so grateful for the opportunity to be a West Ham player.”
West Ham boss David Moyes added: "We are pleased to have signed Flynn and are looking forward to bringing him into the group.
"We think he's got good energy. We think he's got a lot of things which we have about our team, which we would want to keep and want to add to. I'm looking forward to it.
"We brought Jarrod Bowen from a similar situation at Hull, so we're always trying to find boys from the Championship who we think are going to step up to become Premier League players.
"I'm hoping that Flynn does. I think there's a good chance as he's got an awful lot of good attributes.”
The Hammers, who beat off a challenge from Crystal Palace to land the Brentwood-born schemer, held a long-term interest in Downes with TWTD having reported in March 2020 that the East Londoners were keeping tabs on the former England U19 international.
Town already has a significant transfer war chest prior to the Downes windfall following last year’s takeover and, as reported earlier in the week, have made a £1 million move for Leeds left-back Leif Davis.
The 22-year-old has been named on the bench for a Whites XI facing Blackpool in a friendly this evening.
We understand Leicester striker George Hirst, who we revealed in May was among the frontmen interesting the Blues, is also now very much a firm target.