Jaap Stam yesterday completed his £10.75 million move to Manchester United from PSV Eindhoven and said it was "a dream come true".

The 25-year-old Dutch international became the world's most expensive defender when he agreed a seven-year contract but he will not officially become a United player until July 1st.

"It's a great feeling," he said. "As a little kid, I adored Manchester United and I like the club very much."

United's manager Alex Ferguson was equally effusive. "It's a major signing for us and he's a fantastic player," he said. "We're really delighted to get him."

Stam agreed to waive most of his 15 per cent cut of the transfer fee to facilitate the deal and United's chairman Martin Edwards claimed it was one of the easiest negotiations he had conducted with a player.

Meanwhile, Alessandro Del Piero will not be joining United or any other English club as he is set to end speculation about a move by signing a new £12.5 million contract hammered out at the weekend with Juventus.

The striker, who has scored 31 goals so far this season for Juve, is expected to earn around £2.5 million a season for five years after his agent Claudio Pasqualin claimed the player is Italy's answer to Ronaldo and should be paid something similar to the Brazilian's wages at Internazionale.