Alan Pardew has admitted his delight at capturing the signature of young Spanish striker Ayoze Perez.
The Magpies boss also revealed in a club statement that Newcastle beat off competition from other clubs to bring the 20-year-old from Tenerife to Tyneside.
"We're delighted to confirm our first signing of the summer and very pleased to have Ayoze at Newcastle United, as a number of other clubs were chasing his signature too," he said.
"He had a terrific season in Spain last year and is a player who we hope to develop further on Tyneside. He's only 20 but has a very good eye for goal and that's a great asset for any young player to have."
Perez scored 16 goals in the Spanish second tier last season.
