Everton have completed the signing of Wolves defender Joleon Lescott on a four-year contract.

The deal, which could eventually be worth £5million to Wanderers, was delayed for more than a week after the 23-year-old went on holiday.

The Premiership club also had concerns over the player's long-term fitness after he suffered extensive damage to his knee three years ago.

Lescott's knee injury forced him to miss the entire 2003-04 campaign - Wolves' only season in the Premiership - and the implications of a reconstruction to the joint resulted in Everton asking for extra medical checks.

The defender is manager David Moyes' second big-money signing of the summer, having already brought in Crystal Palace striker Andrew Johnson for £8.6million.

A statement from the Championship club confirmed: "Joleon Lescott has finally completed his move from Wolves to Everton.

"The Merseysiders will pay up to £5million, plus a 15% share of any sell-on fee, for the services of the defender who has signed a four-year contract at Goodison.

Chief executive Jez Moxey explained: "Wolves will receive £2million up front, plus another £2million to be paid in instalments over the next two-and-a-half years subject to Joleon continuing to play football. The remaining £1million is subject to player appearances."  PA