United unveil Ferdinand

Rio Ferdinand was unveiled as Britain’s most expensive player by Manchester United this afternoon following his £30m (€46.8m) transfer from Leeds.

The final details of Ferdinand’s blockbusting move were finalised around lunchtime, with the 23-year-old defender agreeing a five-year deal at Old Trafford.

United have agreed to pay Leeds £15m (€23.4m) for Ferdinand, which makes him the world’s costliest defender, and that fee could rise to £33.3m (€52m) depending on appearances and the Reds’ success over the next few years.

United will pay a further £14.3m (€22.4m) in July 2003, with the remaining balance - up to £4m (€6.3m) - payable during the next five years, depending on the performance of United.