Paris Saint-Germain have followed up their world-record signing of Neymar by completing a deal for Kylian Mbappe from Ligue 1 rivals Monaco, in a deal that is likely to be the second-largest of all time.
Mbappe, 18, arrives initially on a season-long loan, but PSG have an all-but-certain option to buy him next summer on a deal lasting until 2022.
Sources have told ESPN FC that the deal will be worth €180 million plus bonuses, putting it only behind PSG's €222m signing of Neymar from Barcelona earlier in the summer.
The loan may allow PSG time to stay within financial fair play (FFP) regulations, which allow a club only a €30m deficit. Following their record Neymar purchase, PSG wanted to structure their deal for Mbappe so the financial impact of his arrival would not be taken into account this season.
The only way PSG will not be obliged to buy Mbappe next summer is if they are relegated from Ligue 1, sources said.
A fully automatic purchase option would have required the expenditure to be counted in the same season as Neymar's, potentially putting PSG in peril of infringing the FFP limits and exposing themselves to sanctions from UEFA, the most significant of which would be exclusion from the Champions League.
"It is with great joy and pride that I join Paris Saint-Germain," Mbappe said in a statement. "For any young person from the Paris region, it is often a dream to wear the red and blue jersey and experience the unique atmosphere of the Parc des Princes.
"I really wanted to be a part of the club's project, which is one of the most ambitious in Europe. Alongside my new teammates, I intend to continue my progression while helping the team achieve the very big objectives it has set itself."
Mbappe made his name on the international footballing scene last season as part of a Monaco side that coach Leonardo Jardim led to the Ligue 1 title and the Champions League semifinals.
The striker, who did not become a regular starter under Jardim until the second half of the season, scored 15 goals and added a further eight assists from just 29 Ligue 1 appearances, starting 17 of those.
Mbappe added a further six goals from as many Champions League outings -- just three starts -- plus three goals from three Coupe de la Ligue appearances and two goals from three Coupe de France outings, making a total of 26 goals and eight assists from 41 appearances.
"It is with a lot of emotion and satisfaction that I welcome Kylian Mbappe to the Paris Saint-Germain family," CEO Nasser Al-Khelaifi said. "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."
Monaco moved to reinforce their attack this week with the signing of forward Stevan Jovetic from Inter Milan and winger Keita Balde from Lazio.
Mbappe was with the France national team on Thursday but is not in the starting XI as they prepare to face Netherlands in a World Cup qualifier.