Josh Harrop has agreed to join Preston from Manchester United, just 33 days after netting on a dream Old Trafford debut.
The 21-year-old marked his first United appearance with a superb first-half effort in the Premier League finale against Crystal Palace, earning the man-of-the-match award for his display in a 2-0 win.
However, Harrop's first game for United has proved his last after turning down a contract extension in pursuit of regular first-team football.
Preston announced the attacking midfielder will leave United at the end of his contract and become their player, agreeing a four-year deal from July 3 with the Sky Bet Championship club.
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Manchester City striker David Faupala has joined League One Chesterfield on loan until the end of April.
The Frenchman spent the first half of the season at NAC Breda, but is now set to get more minutes at Chesterfield.
He will be joined at the Derbyshire club by Preston's Liam Grimshaw who has also agreed a loan deal.
Striker Eoin Doyle has left Preston North End in order to join Portsmouth on loan for the rest of the season.
Everton defender Tyias Browning has been loaned to Preston North End for the rest of the season.
Browning signed a new two-and-a-half year deal at Goodison Park before departing for Deepdale.
I am happy to get playing again; it has been a long time, so I am hopeful I can come in and make an impact,” he told the club’s online TV station.
It was quite a frustrating year for me with the injury, but that is in the past now and I am just happy to be back playing.
Preston have fined Jermaine Beckford and Eoin Doyle following their dismissals for fighting between themselves during Saturday's defeat at Sheffield Wednesday and will use the money to refund the club's travelling fans.
Beckford and team-mate Doyle were both shown straight red cards by referee Scott Duncan in stoppage-time following an angry exchange and furious manager Simon Grayson promised disciplinary action for both players after his side's 2-1 loss.
Preston have confirmed they will not be appealing either red card after holding their own internal investigation, while the duo have issued a joint apology.
The Championship club said in a statement:
After Saturday's incident at Sheffield Wednesday, Preston North End have held an internal inquiry and can confirm that they will not be appealing the red cards issued to Jermaine Beckford and Eoin Doyle.
On top of the punishment they will receive from the FA for their sendings off, they have also been fined by the club for their actions.
These fines will be used to repay all Preston North End supporters who attended the trip to Hillsborough the cost of their ticket money back.
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Preston North End have signed Danish striker Simon Makienok from Palermo on a one-year loan deal, the Championship side have confirmed.
Makienok, who has six international caps spent last season on loan at Charlton, scoring five times in 36 league appearances for the London club.
Championship side Preston North End have snapped up youngster Liam Grimshaw from Manchester United.
Grimshaw, who has spent time on loan at Motherwell this season, can play in defence or midfield.
If you look back over the last few years there have been people like Danny Welbeck who have come here and of course David Beckham when he was younger.
There have been a lot of other permanent signings from Manchester United as well and hopefully this is a good chance for me to come here, play and improve.