The 20-year-old has signed a permanent contract after spending last season on loan at the Merseyside club
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Everton have signed winger Tyrique George from Chelsea for an initial £18m.
The England Under-21 international, whose fee could rise to £24m including add-ons, has signed a four-year deal at Hill Dickinson Stadium after impressing David Moyes during a loan spell on Merseyside last season.
George becomes Moyes’ second summer buy, following Hayden Hackney’s arrival from Middlesbrough, while Merlin Rohl’s loan from Freiburg was always going to be converted into a permanent deal.
George only started one league game during his loan stint with Everton and the Merseyside club chose not to take up their option to buy him for £25m, but instead entered into negotiations to buy him for a lower starting price.
And while George was mainly used as a substitute last season, he made it clear his preference was to join Everton on a long-term basis.
“I’m so happy to sign for Everton. I loved my time here on loan last season, so as soon as I knew it was a possibility to return, that's always what I wanted,” he said.
"This is a massive club. I've seen for myself how passionate the fans are about Everton, how much it means to them and I want to put on good performances, score goals, and create goals to make them happy.
"The fans and the boys in the changing room made me feel welcome as soon as I arrived in February. It's a strong group that's only going to get better. I'm excited for what is ahead for us as a group and club.
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"There is a lot more to come from me and with the manager, the coaches and my teammates, I know I'm in a great place to show it.”
Moyes added: “We’re pleased to bring Tyrique back on a permanent basis. He made a positive impression during his loan spell with us last season and settled into the group quickly.
“He’s still young and there’s plenty of development ahead of him, but we believe he’s got the attitude and the ability to keep improving. We’re looking forward to working with him again and helping him fulfil his potential.”
Everton are also considering bringing back Jack Grealish, who was also on loan last season, while they are targeting a right-back after captain Seamus Coleman ended his 17-year stay at the club.