Swansea have confirmed the signing of striker Danny Graham from Watford for a club-record fee.
The Premier League new boys have splashed £3.5million on the 25-year-old, who will sign a four-year contract.
Graham was the top scorer in the Championship last season with 24 goals and was a reported target for a host of top-flight sides. The deal for Graham remains subject to a medical, which will be completed when the player returns from holiday.
A Swansea statement read: "The club has today agreed personal terms with Watford striker Danny Graham. Graham will sign a four-year contract with an additional 15% sell-on clause to Watford on any profit above the £3.5million.''
Swans chairman Huw Jenkins added on the club's website: "Danny has also spoken to [Swans manager] Brendan Rodgers at length. He is thrilled to conclude the deal and is looking forward to the challenge of Premier League football with Swansea.
"He is a player we have admired for quite some time and as a football club we are delighted to get our man. Brendan is looking forward to working with him and there is no doubt he will strengthen our team for the new campaign.''
Graham, who began his career at Middlesbrough, scored 41 goals in 99 appearances for the Hornets since arriving at the club from Carlisle in a £350,000 deal in 2007.
Carlisle are also set to profit to the tune of nearly £500,000 as the result of a 15% sell-on clause in the deal that took Graham to Vicarage Road.