Newcastle United paid Chelsea just £5m – half the reported £10m – for Irish winger Damien Duff.

Duff, 27, signed for Newcastle on Saturday but according to a statement released to the Stock Exchange on Monday it included details of the fee.

“The directors are pleased to announce that Damien Duff passed his medical and his transfer has been completed for a fee of £5m,” read the statement.

“The player has agreed personal terms and signed a five-year contract ending in June 2011.”

In 2003 Chelsea paid £17m to Blackburn for Duff and he made 125 appearances and scored 19 goals for the club.

“I can’t tell you how pleased I am about getting a player of that quality,” Newcastle manager Glenn Roeder told Setanta Sports 2 prior to his side’s Intertoto Cup win over Lillestrom.

“I would think it will excite our fans as well.”