United unveil £30m man Rio

Rio Ferdinand was unveiled as Britain's most expensive player by Manchester United this afternoon following his £30million 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 £15million for Ferdinand, which makes him the world's costliest defender, and that fee could rise to £33.3million depending on appearances and the Reds' success over the next few years.

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

The deal is Sir Alex Ferguson's first major purchase of the summer and means that at the age of 23, Ferdinand will have changed hands for a staggering £48million in just 20 months.

His signing also means United boss Ferguson has broken the British transfer record three times in the past 13 months after shelling out £19million for Ruud van Nistelrooy and then £28.1million for Juan Sebastian Veron.