Andy Carroll has completed a season-long loan move to West Ham from Liverpool.
The striker arrived in east London by helicopter for a medical on Thursday evening to put pen to paper on the deal following 24 hours of frantic negotiations.
Goal.com understands that the Hammers have a £17million option to purchase Carroll at the end of the season but have no obligation to buy the forward.
West Ham will pay Liverpool a £1.5m loan fee and all of the striker's £80,000-a-week wages during his season-long switch after persuading the player to change his mind about moving to Upton Park.
West Ham co-owners David Sullivan and David Gold had agreed the terms of a loan deal with Liverpool last month but Carroll made it clear that he did not want to move to the newly-promoted Premier League club.
However, he has had a change of heart after Anfield boss Brendan Rodgers made it clear he would only be third choice striker at the club this season, behind Luis Suarez and Fabio Borini, and his former club Newcastle United failed to make another move for him after initial contact with Liverpool in July.
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"It's great to be here at West Ham and all signed up - I just can't wait to get started now," Carroll told the Hammers' official website on Thursday night.
"I want to be playing games and obviously hoping to score some goals. I know the manager well and some of the lads, so it is nice for me to come to a place where I know people.
"I'm hoping to add a lot of goals and create a few chances. I know Sam from Newcastle and he was a massive reason for me coming. When I worked with him at Newcastle it was great so it was a no-brainer really."
Irons boss Sam Allardyce was also delighted to secure Carroll's signature, having previously managed him at Newcastle.
Allardyce has notably introduced a more physical approach since taking over at Upton Park, but denied that Carroll's meant a definite continuation of that, also praising the big striker's ability with the ball at his feet.
He added: "I think for all parties this is a great signing. Andy is an all-round footballer, but because he is 6'3" and one of his strengths is his aerial power, everybody dismisses the ability he possesses on the floor.
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"Hopefully he can score goals for us and we will be in a very good position at the end of the year in the Barclays Premier League."
Carroll became the most expensive English player in history when he moved to Anfield on deadline day in winter 2011, but injury and poor form saw him fail to establish himself on Merseyside, scoring just 11 goals, in 58 appearances for the Reds.