The club report it was a £5 million deal. The announcement goes on to say Shelvey will join the Swans as they prepare for the new campaign with a preseason visit to Holland.
The newest member of the defending Capital One Cup champions thanked the Liverpool fans and stated he's looking forward to the new challenges on the horizon in Wales.
Shelvey started his senior career with Charlton Athletic before moving to Liverpool. He initially struggled to make an impact with the Reds, but he finally started to show signs of progress last season, which is probably what caught the eye of Swansea.
His best form was on display during Liverpool's run in the Europa League. He scored four goals in 10 appearances. The terrific upside the Reds knew he possessed when they signed him was on full display during those matches.
In order for him to reach his potential, however, he needs to receive more consistent playing time in first-team football. With Liverpool under pressure to contend in the Premier League quickly, it was difficult for the Reds to provide him with those constant opportunities.
Heading to Swansea should open the door to more playing time. The 21-year-old English international should become a major part of the building process at Liberty Stadium. The effort got a jump-start with the unexpected Capital One Cup triumph last season.
Liverpool have depth in the midfield, so the exit of Shelvey shouldn't have a significant impact on their planning for next season. If anything, it should give Brendan Rodgers a little extra flexibility after collecting the transfer fee.
Swansea hope Shelvey will develop into the key piece he's been expected to become in recent years. There's no reason to believe he can't do exactly that.