Arsenal paid Real Madrid in excess of £15million to complete a season-long loan deal for midfielder Dani Ceballos.
The Spaniard’s move to the Emirates was confirmed on Wednesday following weeks of negotiations between the two clubs.
The 22-year-old is valued at around £45million and Arsenal had to fight off late interest from rivals Tottenham to get the deal over the line.
Ceballos’ deal is not thought to include an obligation to buy as Madrid value him so highly that they feel they can extract a large fee next summer.
And, in a measure of Madrid’s valuation of Ceballos, the Sun claim that Arsenal were forced to pay £15m to complete the loan deal.
The Spaniard will spend a single season at the Emirates, though they’ll undoubtedly look to make the move permanent should he prove a success.
Ceballos said he was ‘proud’ to be joining the Gunners and claimed it was a ‘step forward’ in his career.
‘I’m really proud to be able to wear this shirt,’ said Cebellos following the announcement of his signing.
‘I’m joining an historic Premier League side and it’s a step forward in my career. ‘I’ve not spoken to my team-mates yet so we’re not sure of what the objective is, but obviously I’m coming here to give everything I have.
‘Nobody will be able to question that because from the very first day I pull this jersey on I’ll give everything I’ve got. We’ll try to achieve the club’s objectives.’
It was a successful day for the Gunners, who also announced the capture of 18-year-old defender William Saliba for a fee of around £27m.
The Frenchman will remain at Saint-Ettiene next season before moving to Arsenal in 2020.