Nottingham Forest shattered their transfer record with a deal for Wolves midfielder Morgan Gibbs-White that could cost the Premier League newcomers up to £42.5million.

The eye-watering move was completed on Friday, with Forest reportedly paying £25million up front and the rest being dependent on performance-related add-ons.

Forest announced 22-year-old Gibbs-White has signed a five-year contract and been handed the number 10 shirt.

It represents a spectacular show of belief in his talents by Forest boss Steve Cooper, who had Gibbs-White in his England team that won the Under-17 World Cup in October 2017.

Phil Foden was also in that side, with both the Manchester City star and Gibbs-White scoring in the final as England beat Spain 5-2 in Kolkata.

Gibbs-White had already made his first-team debut for Wolves at that point, having faced Stoke City as a 16-year-old in January 2017, but his Premier League career record shows plenty of room for improvement.

In 48 top-flight games, including 36 substitute appearances, Gibbs-White has scored just once and managed only one assist.

He was much more productive in the Championship with Sheffield United last season, hitting 12 goals and adding 10 assists from 60 chances created in 37 games, and must show he can carry that form into the Premier League.

Everton were among clubs interested in Gibbs-White before Forest agreed a deal with Wolves, and it has been reported Frank Lampard's side made a late move to try and hijack the deal.

Wolves chairman Jeff Shi said on his club's website: "After his successes last season, it was no secret that Morgan declined to sign a new contract at Wolves, but despite that he has always acted with the utmost professionalism and gave everything for the team.

"Morgan leaves as the most valuable Wolves academy graduate in the club's history and will be an inspiration to the next generation of young players in our academy today."

Gibbs-White, who could be in line for a Forest debut against Everton on Saturday, had started both of Wolves' matches this season, though Bruno Lage's team have reinforced their attack with the signing of Goncalo Guedes from Valencia, while midfielder Matheus Nunes arrived from Sporting CP in a club-record transfer on Wednesday.