Town have confirmed the permanent signing of last season’s star loanee Omari Hutchinson on a five-year deal from Chelsea for a new club record fee.
The officially undisclosed fee is believed to be an initial £18-£20 million plus another £2.5 million in top-ups with the deal including a sell-on of 25 per cent.
There is no buyback clause but it's understood Chelsea have inserted matching rights into the deal, although with the decision ultimately up to the player. The forward’s previous club Arsenal will receive a sell-on of 15-20 per cent of the fee.
Chelsea are understood to have been keen to get the move over the line before the end of the month, having been widely reported to need to make player sales in order to comply with Premier League Profitability and Sustainability Rules (PSR).
The fee smashes Town’s previous record, the £4.8 million paid to Sampdoria for Matteo Sereni in the summer of 2001.
"We’re so pleased to bring Omari back on a permanent basis,” Town manager Kieran McKenna told the club website.
"Omari is someone we all enjoyed working with last season and the staff, his teammates and supporters all saw how he grew and developed over the course of the year, which is testament to the hard work he put in.
"The impact he had on the team throughout the season, especially in the latter part, was evidence of that and he, like so many of his teammates, played a significant part in that success for the club.
"We think Omari is a fantastic player and person to have at the club for the long-term future. He has a hunger to improve and show that he can compete and thrive in the Premier League.”
Jamaica international Hutchinson, who will be reunited with his teammates at the start of pre-season training on Monday, made a huge impression on loan as Town won promotion to the Premier League last season, winning the club’s Young Player of the Year award after netting 11 times and picking up six assists in his first senior season.
Boss McKenna made no secret of his desire to bring Hutchinson back to Portman Road, joking that he’d like him to be CEO Mark Ashton’s birthday present to him at the End-of-Season Dinner in May.
Supporters will be equally delighted with Hutchinson having become a big fans’ favourite during his loan spell.
Town are also close to announcing the addition of former West Ham right-back Ben Johnson on a free transfer, the right-back’s Hammers exit having been confirmed this morning.
The 24-year-old is understood to have agreed a four-year deal at Portman Road with his move looking likely to be confirmed on Monday.