Luke Shaw
Luke Shaw is delighted to join Manchester UnitedReuters

Manchester United have announced the signing of Southampton left-back Luke Shaw, for a transfer fee reported to be in the region of £27 million.

The 18-year-old has penned down a four-year contract, with an option of another year's extension, after successfully undergoing a medical at Old Trafford.

"Manchester United is delighted to announce the signing of Luke Shaw from Southampton Football Club. He joins on a four-year contract with an option to extend for a further year," read a statement on the club's official website.

Shaw, who has become United's second signing this summer after midfielder Ander Herrera from Athletic Bilbao, expressed his pleasure to join the Red Devils.

"I am thrilled and excited to be joining Manchester United. I have been at Southampton since I was eight years old and I would like to thank them and the fans for everything they have done for me," Shaw told United's website.

"I want to continue to progress my career and joining United is the ideal place for me to do that. I am looking forward to this new chapter in my life and also looking forward to learning from the world-class players and management at the club."

Red Devils' assistant manager Ryan Giggs, who is currently deputising for Louis van Gaal (who is busy with Holland at the World Cup), feels the England full back has the ability to be a top player at Old Trafford.

"Luke is a very talented young left-back with great potential. He has developed immensely during his time at Southampton and has all the attributes to become a top player," Giggs told ESPN.

"I am delighted he has joined Manchester United as I believe this is the right club for him to continue his development as a young player and eventually fulfil that promise."

United also announced that they have reached an agreement with Russian side Dynamo Moscow for the sale of their current back-up left-back Alex Büttner.

"Manchester United has finalised the sale of Alex Büttner to Dynamo Moscow for an undisclosed fee," read a statement on the website.

The 25-year-old was unable to establish himself at Old Trafford since his arrival from Vitesse Arnhem in 2012.