SWINDON Town target Tom Nichols has signed for League One rivals Peterborough United, it was confirmed this lunchtime.

Striker Nichols, who Town chairman Lee Power confirmed was the subject of a bid at the weekend, signed for Posh for a fee believed to be around £250,000, with another £150,000 coming based on appearances.

The 22-year-old, who has scored 12 goals for City this season, was in the last six months of his current deal at St James's Park and was attracting interest following an impressive performance against Liverpool in the FA Cup last month.

City manager Paul Tisdale revealed that a number of teams had contacted him with regards to Nichols, but the deal had to be right for all parties.

"There was a lot of interest, but there has got to be three parties happy in any deal," Tisdale told the Exeter Express & Echo.

"We have got to have a sum that we think reflects his talent and we are happy with, Tom has got to be happy with the club he is going to and the buying club has got to be happy with the amount they are spending.''

Nichols was a target for Town, with chairman Lee Power confirming before Saturday's defeat to Barnsley that he had made an offer for the player.