Wolves today paraded new signing Roger Johnson and insisted they were getting good value for money.

The 28-year-old was at the club’s Compton training ground earlier today being unveiled to the media after signing a four-year deal.

Wolves decided against unveiling him yesterday so as not to take the gloss off their £50m plans to transform Compton Park.

And chief executive Jez Moxey was delighted with the latest piece of business after claiming reports of a £7m fee were “inaccurate”.

Wolves are believed to have paid significantly less for the former Cardiff man.

“We’re genuinely delighted to have signed what we believe to be an outstanding player at a good price,” said Moxey. “He fits the bill in terms of being a British player with Premier League experience who has done very well at Birmingham.

“He fits into the ethos of what we’re looking for at Wolves and will add quality to the squad heading into our third season at this level.

“While we’re sticking to our policy of the transfer fee remaining undisclosed, a lot of reports concerning the fee are inaccurate.”

Signing Johnson is a case of second time lucky for Wolves, who refused to pay Cardiff £5m for him two years ago.

And Moxey revealed missing out on Matt Mills after they withdrew from the bidding when the price hit £4.5m was a blessing.

“We were negotiating with Birmingham for a long time but it got to a stage where we might not have been able to sign him,” said Moxey.

“At that point we started talking to Reading about Matt Mills. But it soon became apparent that the situation with Mills was that it wasn’t the sort of value for money we were looking for.”