Greg Cunningham had one year left on his contract after being at Preston for the past three seasons after signing on a free transfer from Bristol City upon Preston's return to the Championship.
The left back was offered a new deal but wanted to pursue his ambition of playing in the Premier League. Newcastle and Cardiff had been interested previously but Preston had resisted offers until now.
North End faced losing Cunningham for nothing next season and so decided to cash in now by accepting an offer in the region of £4 million. It is understood that in the past a figure of £7 million was placed on Cunningham's head but with one year remaining on his contract a cut price deal was agreed.
The move is lessened by the fact that youngster Josh Earl covered for Cunningham last season at left back impressing many including Harry Redknapp.
Earl will have to improve again if he is to continue to impress over a full season but it is clear he has the skills to be an explosive left back in the Championship.