Tottenham have signed midfielder Pierre-Emile Hojbjerg from Southampton, with full-back Kyle Walker-Peters heading in the opposite direction.
Hojbjerg, 25, has moved for a fee short of Saints’ £25m asking price, but well in excess of Tottenham’s £15m opening offer.
Walker-Peters, 23, has made a permanent move to St Mary’s after joining on loan in January.
Both players have signed five-year contracts.
More to follow.