Everton and Crystal Palace have completed a swap agreement involving wide players Brennan Johnson and Dwight McNeil.
Wales international Johnson departs Selhurst Park only seven months after arriving in a club-record deal worth £35m.
McNeil moves to Palace six months after his proposed £20m transfer to the London side collapsed at the close of the January transfer window.
Every swap transfer must clear the Premier League’s fair market value checks, following a series of deals linked to PSR during the 2024 window.
Johnson has lifted European silverware in each of the last two seasons, including scoring the goal that won Tottenham the Europa League in 2025, but he did not score in 26 appearances for Palace.
McNeil’s switch to Palace also comes six months after his partner accused the club of harming his mental health when the move was called off at that time.
Johnson, meanwhile, is the second winger David Moyes has brought in this summer after Tyrique George, with the Scot aiming to strengthen Everton’s options in the wide areas.
Johnson said he is eager to rediscover his best form at Hill Dickinson Stadium, saying: “It’s a massive club and one that, when I first heard about the interest, I immediately wanted to join and be part of.
“There were a lot of reasons why I was so keen to sign – the manager, the players, the direction the team is heading in. You can see this is a club that wants to move the right way, and I’m a player who wants to move in that direction, so it feels like a really good fit.
“I want to come in and show what I can do. The manager spoke to me about getting back to the form I’ve shown before, and that is a massive thing for me – the fact he knows and believes in what I can do. For me, hearing that from him – a manager who is so experienced and someone who has been so successful – was really nice.
“I want to bring all of my attributes. I think I can bring speed, goals and everything I’ve got.”
McNeil, who was signed for Everton by Frank Lampard four years ago, scored 15 goals in 128 matches for the Merseyside club and had moved into the final year of his contract.
The former Burnley player was reintegrated by Moyes after his move to Palace was first abandoned, and he went on to make another eight appearances.
His girlfriend Megan Sharpley had then criticised Palace on Instagram, writing: “Tonight, and the last 48 hours, have broken my heart to see how the football world you love so much can be so cruel to you. We live in a world where everyone is aware of how big a problem mental health is. So, in football, why do we find it acceptable because these young men are on a lot of money and that it’s OK to mess and toy with their mental health and that it’s just part of the job?
“To have something promised to you, to have been dragged along on an emotional rollercoaster and to be toyed with until the final minute. For that to be torn away from you at the last second with absolutely no explanation has hurt more than I can say.”
He has now become Palace’s third signing under new manager Pierre Sage, following Oscar Mingueza and Takehiro Tomiyasu.
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