West Brom agreed to pay Liverpool a £2million loan fee to sign Daniel Sturridge.
The England striker completed his move to the Hawthorns on Monday after snubbing Newcastle.
Sturridge had fallen out of favour at Anfield but Liverpool had initially been after a £5million loan fee for the striker.
Sunday Mirror Sport reported Liverpool had slashed that fee, attracting interest from Newcastle and West Brom.
But the Baggies stole the march after agreeing to pay £2million and Sturridge's £120,000-a-week wages, reports the Mail.
Newcastle believed Sturridge was on his way to Tyneside to undergo a medical before West Brom entered the race.
The Birmingham-born striker wanted to move closer to home and has now set his sights on getting back into the England fold.
Sturridge said: "I just felt this was the right fit for me. I’ve got friends here I’ve played with before, the manager spoke very well and there’s the challenge with the team and the style of play.
"Coming here, I'm back home. When I've played here, it had a home feel for me. I'm seeing faces in the stands that I've known growing up.
"It's a good feeling for me being here. I want to enjoy myself as much as I can but getting results is our first priority.
"God willing I'll be able to help the team win games. That's the most important thing. Whether it's goals, assists, hard work, all of those things."