Babel signs five-year deal after Liverpool agree £11.5m fee

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The Dutch club say a five-year contract has been signed, although the Reds are yet to confirm the deal and it is unclear whether all the formalities have been completed.

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Babel finally secured his switch following long drawn-out discussions

A statement on the Ajax website, www.ajax.nl read: "The attacker (Babel), who had a contract at Ajax up to July 1 2010, has signed an agreement for five years."

Babel, 20, starred for Holland in their recent European Under-21 Championship success on home soil.

Reds chief executive Rick Parry confirmed yesterday they had been given permission to talk to the player by Ajax, who was included in Holland's senior squad for the 2006 World Cup and said they hoped to reach agreement with the Amsterdam side "very shortly".