LIVERPOOL, England (AFP) - Everton made their second signing of the summer on Friday when they captured South Africa midfielder Steven Pienaar on a 12-month loan deal from Borussia Dortmund.

The 25-year-old made 25 appearances for the Bundesliga side after joining from Ajax in 2006 where he was seen as a replacement for Tomas Rosicky who left for Arsenal.

Pienaar follows midfielder Phil Jagielka as a Goodison Park newboy but the deal is subject to him being granted a work permit.

Everton, who will play in the UEFA Cup this season, spent four million pounds to bring Jagielka to Merseyside from Sheffield United, but the club insist they will not be dragged into paying inflated fees for players.

Chief executive Keith Wyness, like manager David Moyes, is concerned at the high fees that are being paid.

"There has been an inflated value on some of the transfers," said Wyness.

"I believe we have a value of a good player, what we consider a fair value and we will not go above that.

"There is no doubt new stores of cash (from Sky TV) has made inflation happen. There has also been a rush of blood from new owners but I am sure things will settle back down."