PSG have concluded the signing of Brazil forward Neymar for a world record fee of 222m euros (£197m) from Barcelona.
The deal for the 25-year-old smashes the previous record set when Paul Pogba returned to Man United from Juventus for £89m in August 2016.
Neymar will earn 45m euros (£40.7m) a year – 865,000 euros (£782,000) a week – before tax from the initial five-year deal, a total outlay of £400m.
Afterwards, Neymar said he has joined “one of the most ambitious clubs in Europe“.
“Paris St-Germain’s ambition attracted me to the club, along with the passion and the energy this brings,” he added.
“I feel ready to take the challenge. From today, I will do everything I can to help my new team-mates.”
The French side have arranged a news conference for 12:30 BST on Friday (today). Neymar will then be introduced to fans on Saturday at PSG’s first game of the season against Amiens at Parc des Princes.
PSG reached the last eight of the Champions League last season – knocked out by a Neymar-inspired Barcelona – and were beaten to the French title by Monaco.
After weeks of speculation, Neymar arrived for training with Barcelona on Wednesday with his father and representative, and told the Spanish club he wanted to leave.
He was then given permission by Barca manager Ernesto Valverde to leave to “sort out his future“.
In Spain, a release clause can only be activated by a player buying himself out of his contract.
But when Neymar’s lawyers attempted to make the deposit on Thursday, La Liga officials rejected the payment. Further statements followed from all sides as the negotiations continued.
La Liga believes French club PSG are violating UEFA’s Financial Fair Play (FFP) rules and Barcelona previously said they would report PSG to the European football’s governing body for a FFP breach.
PSG believes La Liga was acting unlawfully, while the French league said it was “surprised” and urged its Spanish counterpart to “abide by the FIFA rules“.
Unable to get La Liga to take the payment, Neymar’s representatives paid the 222m euros (£200m) fee at Barca’s offices instead.
Neymar’s departure from Barcelona breaks up the feted attacking trident he formed with Argentina captain Lionel Messi and Uruguay forward Luis Suarez.
On Wednesday, Messi did post on Instagram: “It was a great pleasure to have shared all these years with you my friend Neymar. I wish you good luck in this new stage of your life.”
Neymar then replied: “Thank you brother. I will miss you.”
Then, after completing the move, the Brazilian posted his own message, calling the Argentine “the best athlete I’ve ever seen in my life“.
“Lionel Messi became my team-mate, and my friend on and off the pitch,” he wrote. “I am proud to have played with you. We formed an attack with Luis Suarez that will endure forever.
“I achieved everything a sportsperson can achieve. I played with these guys in video games. I lived unforgettable moments in a city that is more than a city – it’s a homeland.
“Barcelona and Catalonia will always be in my heart but I need a new challenge. PSG offered a bold new way forward and I’m ready. Right now I feel in my heart that it’s time to go.“