The specific details of the deal have not been released, but it is almost certain to involve £20m in cash to be paid over two years, plus an additional £25m based upon Manchest United's sucess in the coming years. It is thought that Rooney has agreed a 5 year contract with United.
Talks regarding the move nearly broke down yesterday after United would not guarentee Everton a sufficient injection of cash immediatly. However, the intervention of Alex Ferguson prompted the United board to move closer to Everton's position, and it appears that the deal was done late last night.
The question is now, who will Everton sign today? Well, we better get somebody!