Phillips came through the youth academy at Wycombe
Blackpool have signed Wycombe winger Matt Phillips for an initial fee of £325,000, which could rise to almost £700,000 according to the Chairboys.
The 19-year-old, who played for England Under-19s at the European Championships this summer, has featured 85 times and scored nine goals for the Blues.
"It's a great move for him and excellent business for the football club," said Wycombe boss Gary Waddock.
"He is an outstanding prospect. We couldn't stand in his way."
Blackpool have paid £325,00 up front for Phillips, with a further six-figure payment if they remain in the Premier League next season, or if they are relegated but regain their top-flight status within the next four years.
Wycombe owner Steve Hayes told the club's official website: "How could we deny him the chance to further his career by playing for a Premier League club?
"We offered him a new, long-term contract several months ago but he was reluctant to commit himself and once Blackpool came in he wanted to go.
"We believe we have negotiated a realistic fee for a player who wasn't a first team regular."
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