Paris Saint-Germain has reached an agreement with Monaco to sign striker Kylian Mbappe on a season-long loan with an option to buy and make the France international the most expensive teenager in football history.
When the option is exercised at the end of the 2017/18 campaign, PSG will secure the 18-year-old on a contract until June 2022 for a reported €180million. The deal will make Mbappe the second most expensive player in history after Neymar, who joined PSG from Barcelona for €222m this month.
The capital club is believed to have structured the deal to ensure that it does not fall foul of UEFA's Financial Fair Play regulations, given the investment it has already made in Neymar in terms of transfer fee, agent fees and the player's contract, which is reportedly worth €560,000 per week.
Mbappe, 18, was linked with a host of major European clubs following his exceptional performances for Monaco last season as it claimed the Ligue 1 title and reached the Champions League semifinals.
The forward registered 26 goals and 11 assists in all competitions, prompting reported interest from PSG, Manchester City and Real Madrid in particular.
"It is with great joy and pride that I join Paris Saint-Germain," he said. "For any young person from the Paris region, it is a dream to wear the red and blue jersey and experience the unique atmosphere of the Parc des Princes.
"I was seduced by the project of the club, which is one of the most ambitious in Europe. Alongside my new team-mates, I intend to continue my progression while helping the team achieve the very big objectives it has set itself."
It was claimed in Spain that European champion Madrid had agreed a fee with Monaco last month but the rumours quickly dissipated with PSG getting its man after a protracted pursuit.
"It is with a lot of emotion and satisfaction that I welcome Kylian Mbappe to the Paris Saint-Germain family," said PSG president Nasser Al-Khelaifi. "It was essential for French football that we keep and help develop such a great talent in our championship.
"Among players of his age, he is without doubt the most promising in the world due to his immense technical, physical and mental qualities.
"Since his emergence at the highest level, he has earned an excellent reputation as a young talent who is very respectful, open, ambitious and already very mature.
"Under our colours, in the midst of truly great players, Kylian will continue his progression in a way that will also benefit the French national team in the months and years to come. With his arrival, more than ever, our supporters will have plenty to cheer about."
Mbappe is currently with Didier Deschamps' France squad for Thursday's World Cup qualifier against Netherlands, with a match against minnows Luxembourg also on the agenda before he begins training with his new PSG team-mates.
He could make his debut in the Ligue 1 trip to Metz on September 8.
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