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United thought Jones was heading to Old Trafford last week, only for old foes Liverpool to intervene with a reported £20mn offer.
However, Jones is understood to have told Rovers he only wanted to move to United and that has left Blackburn having to accept an offer for the 19-year-old believed to be in the region of £16.5mn.
“Manchester United is delighted to announce it has signed an agreement with Blackburn Rovers for the transfer of Phil Jones,” said a United statement.
“The player passed a medical in Manchester last week and has agreed a five-year contract.
“The deal will be completed once the player returns from international duty.”