Midfielder Dan Gosling has completed his move from Everton to Newcastle, penning a four-year contract at St James' Park.
The Magpies have spent the summer trying to strengthen their squad for life back in the Premier League on a tight budget, and are delighted to have snapped up the 20-year-old on a free transfer after exploiting his complicated contractual situation at Goodison Park.
He follows Nottingham Forest utility player James Perch, 24, into the club with Hughton investing in players he believes will develop and increase in value over the course of their contracts.
Gosling, who will wear the number 15 shirt, has signed a four-year deal, although it will be several months before he is able to pull on the black and white shirt in earnest as he continues his recovery from a serious knee injury.
However, he was delighted to have clinched his move to St James' Park.
Gosling said: "It's a brilliant move for me. Now that the deal is done, I just can't wait to get started.
"I have played at St James' Park before and know all about the amazing atmosphere.
"Playing there in a black and white shirt is something I have thought about already, and it will be a great day when I finally get to walk out in front of 50,000 people.
"The gaffer, Chris Hughton, and all of the lads have been great with me and made me feel really welcome since I arrived, and hopefully I can repay the faith that they have shown in me."
The deal was agreed in principle some time ago after the Magpies took advantage of Everton's failure to follow up a verbal contract offer in writing by the prescribed deadline.
An independent hearing convened under Premier League rules cleared the way for Newcastle to push home their interest, although they wanted to await any response from the Toffees before putting pen to paper.
Plymouth-born Gosling, who began his professional career at his hometown club, made a £2million switch to Merseyside in January 2008 and was handed a league debut against Middlesbrough on Boxing Day of the same year.
He scored his first senior goal in a 3-0 win over Sunderland two days later, but made his name at Goodison with a 118th-minute winner against arch-rivals Liverpool in an FA Cup fourth-round replay.
However, he has been out of action since rupturing his cruciate ligament in a collision with Wolves keeper Marcus Hahnemann in March.
The initial prognosis was that Gosling would be sidelined for nine months, but Hughton is confident he will have a major role to play once he is fit.
He said: "We are delighted to have signed Dan. He's the right age and the profile he has is what makes it such an appealing capture for us.
"He's young but has Premier League experience and he's someone who can continue to develop his game.
"We see him as a high-energy player and a player who can play from box-to-box, but he's also a young player with experience, so he won't be fazed by what is ahead of him."
Hughton does have some money to spend this summer despite the club's revelation at the end of the last campaign that there would be no new capital outlay on players.
However, he has dismissed speculation that Real Madrid striker Raul and Marseille midfielder Hatem Ben Arfa are targets.
