Liverpool signs Crewe teenager Smith

Liverpool secured the signature of highly-rated 16-year-old Crewe midfielder Dan Smith for a fee believed to be in the region of $480,000.

A move that would have seen Smith sign with Manchester City last month fell through, allowing the Reds to swoop in and add Smith in a deal that could reach over $1 million depending on matches played.

A spokesman for Crewe confirmed the move to reporters: "We are naturally disappointed that Dan has decided to sign for Liverpool.

"The club has received an undisclosed fee and future add-ons but we would have much preferred to have seen him play for our first team."

Smith was 11 when he joined Crewe and has gone on to have success with England's youth team.