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Manchester City have confirmed the signing of midfielder Jack Rodwell from Everton for £12m.

The 21-year-old has signed a five-year deal and the fee could rise to £17m.

Rodwell completed a medical with the Premier League champions on Sunday before signing a deal to become Roberto Mancini's first signing of the summer.

"Man City are a massive club, the league champions, so it's a once-in-a-lifetime opportunity. It's a dream come true,"

He joins up with England for Wednesday's friendly against Italy, but will be available for Manchester City's opening game of the season against newly promoted Southampton at the weekend.

"It will be an amazing experience to make my debut in front of them [Manchester City supporters] if I am selected to play next weekend," he added.

"Obviously I knew the squad is immense with talent here but I believe in my ability. I've just got to work my way into the manager's plans and hopefully things will go well.

"The hard work starts today as I start to help contribute to the club winning more silverware. The season has started really well with the Community Shield win."

Rodwell rose through Everton's youth system after joining the Premier League club at the age of seven.

He represented England at four junior levels before making his senior debut in the friendly win over Spain in November 2011, replacing Phil Jones as a 56th-minute substitute.

Three days later, Rodwell started his first full international, playing 58 minutes against Sweden before being replaced by James Milner.

"I would like to place on record my thanks to everyone at Everton. The manager David Moyes has been brilliant for me and helped make me the player that I am today," said Rodwell.

"I have a special relationship with the chairman, Bill Kenwright, who did not want me to leave."

Rodwell revealed that despite his long-standing ties to the Toffees, talks about a move to City had been going on for a while.

"It's been kept under wraps quite nicely. It's been going on for the past couple of weeks but the last couple of days it's progressed really quickly. I'm just pleased it's done," he added.

Rodwell is Manchester City's only high-profile new arrival this summer, although the club have been linked with transfers for Arsenal striker Robin van Persie and Liverpool centre-back Daniel Agger.

He will add depth to a City midfield department without England international Gareth Barry, who has a hip problem, while Nigel de Jong is stalling over a new deal.

The 27-year-old is in the final year of his contract and has attracted interest from Bayern Munich.