Manchester City have confirmed the signing of Everton defender John Stones on a six-year deal, paying a reported £47.5million for his services.

City, 3.25 to win the Premier League this season, have been chasing Stones ever since manager Pep Guardiola joined the club earlier this year.

Speculation increased on Tuesday morning when Stones was named in Manchester City’s Champions League squad on UEFA’s official website.

The England international was a key member of Everton’s squad last season but Guardiola has finally tempted the Toffees to sell him ahead of the new campaign.

The deal for Stones makes him the most expensive defender in Premier League history and the fee will increase to £50m with add-ons.

He will meet his new team-mates on Wednesday and the 22-year-old insists he cannot wait to get started, while he has also wished his former club well.

“I’m absolutely delighted to sign for City and now the deal’s done I’m looking forward to the next stage in my career,” he told City’s official website.

“I’ve obviously seen what’s going on here at the Etihad, it’s an ambitious Club with a great manager so I can’t wait to get stuck in and help achieve the goals.

“I know it will be tough getting a place in this team but I’m determined to become the best player I can be and help us to success.

“I had a wonderful time with Everton and wish them and their fans all the best but now I’ll give my all for City.”

Stones’ exit will be a bitter blow to Ronald Koeman ahead of the new campaign and he was expected to start against Tottenham on Saturday at Goodison Park.

The Toffees can be backed at odds of 3.00 to win, with the draw 3.20, while Spurs are priced at 2.40 with Dafabet.