Southampton defender Luke Shaw has signed for Manchester United for £27m, making him one of the world’s most expensive youngster of world football.

Luke Shaw is the second signing of this summer for Manchester United as they began their long-awaited overhaul on Thursday by signing Athletic Bilbao midfielder Ander Herrera for around £29m.

English news site BBC Sport has confirmed the capture of young Luke Shaw by Manchester United. The BBC report claims that: “England defender Luke Shaw has signed for Manchester United from Southampton for £27m, making him one of the world’s most expensive teenagers. The 18-year-old’s fee could rise to £31m, depending on his success. An initial £27m offer was rejected in May.”

The 18-year-old Luke Shaw is considered as one of the brightest prospect of English football and United management have beaten Jose Mourinho’s Chelsea for his signature.

Manchester United tried to sign Luke Shaw in May but his club Southampton rejected their offer initially however, it appears a compromise has been struck after the player himself wished his desire to play for the Old Trafford club.

Despite his tender age, Shaw has already made 60 appearances in the Premier League and he will be competing with Patrice Evra for the starting role at Manchester United. Evra has already signed a contract extension with Manchester United and he will be playing at Old Trafford until 2015.

The signing of Luke Shaw will open the exit door for last season’s back-up Alexander Buttner as the youngster failed to impress the United management. Buttner is expected to complete his move to Dynamo Moscow soon.

Meanwhile, Manchester United has already confirmed the signing of Ander Herrera from Athletic Bilbao. David Moyes had attempted to sign the Spanish midfielder last summer but the negotiations collapsed on the last day of transfer window. And despite spending such huge amount of money on just two signings, the spending spree of Manchester United is not over yet.

Manchester United have planned a complete overhaul of their squad and the likes of Nemanja Vidic and Rio Ferdinand have already said their good-bye to the Old Trafford club. New boss Louis van Gaal is also expected to show the exit door to Nani and Dani Welbeck once he takes the charge.

The Red Devils have big plans for other areas of concern as well. A quality central defender is going to be the first priority for Van Gaal and FC Porto’s Ezequiel Garay has constantly been linked with a move to Old Trafford. However, he completed his move to Zenit St. Petersburg yesterday.  United are also expected to make a move for another world class midfielder and AS Roma’s Kevin Strootman is the favorite of new boss Louis van Gaal.