TOMMY Smith has today (Thursday) completed his transfer to Portsmouth.

The 29-year-old signs for the Premiership outfit for an undisclosed fee.

Watford had agreed fees with the south coast club and Reading - the player then decided to move to Paul Hart's side.

Speculation has surrounded the future of Smith all summer but Watford stood firm and held out for the valuation placed upon the player by the Chairman and the Club and that was met by both bids.

The versatile attacker had just 11 months left on his contract at Vicarage Road and could have walked away on a free transfer next summer.

Smith rejoined the Golden Boys in August 2006 after previously progressing through the Academy at the Club and left in 2003 for Sunderland, before spending two seasons with Derby County.

Chairman Russo said: "We had to take the financial implications into account as in January Tommy could agree a deal with another club for next summer.

"Whilst we don't want to lose a player of his undoubted quality, the financial position we inherited is clear and we have to look after the future of the Club.

"As a Club we were adamant not to move from our valuation of Tommy and we held firm with this.

"In January a £1.6m bid was turned down and since then he has contributed to the Club."

The Club would like to place on record its thanks and appreciation to Tommy for all his fantastic efforts during his second spell with the Hornets.