Lee Cook has rejected a new contract at Watford to sign for QPR.
The 22-year-old winger was QPR manager Ian Holloway's top transfer target following a successful loan spell at Loftus Road in the 2001/2 season.
Cook, a boyhood fan of his new club, will now meet up with his team-mates for pre-season training.
Watford are entitled to compensation because of Cook's age, but the amount is likely to be set by a tribunal after the Hornets rejected an initial offer.
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