Lyon striker Alexandre Lacazette has agreed to join Arsenal on a five year term for a record fee of £46.5m fee.
The fee – up to £52.6m with add-ons – will surpass the £42.4m Arsenal paid Real Madrid for Mesut Ozil in 2013.
The 26 year old French International is Arsenal’s second signing this summer and came days after Arsenal CEO, Ivan Gazidis assured fans about the club’s readiness to buy quality players.
Last week, Arsenal also recruited Left-back Sead Kolasinac from Bundesliga’s Schalke.
Lacazette is expected to travel with the club’s tour party to Sydney, Australia this weekend. The games in Sydney will be followed by a match against Bayern Munich in Shanghai the following week.
The new signing is likely to make his home debut in the Emirates Cup on July 29 or July 30, Arsenal announced on their website.
Manager Arsène Wenger said: “We are very happy to have Alexandre join our group. He has shown over a number of years that he can score goals and that he is a very efficient finisher. As well, he has very interesting technical qualities and a strong character. So he is a guy who is a great addition for us, and someone who will help us challenge at the top level this season.”
The player said : “Throughout my childhood and thanks to Arsenal’s former striker Thierry Henry and other French players, I always dreamed of playing for this club so that dream has been fulfilled.
“I like clubs with a history and the fact that the manager has been here for a while shows that it is a stable club. There are quite a few French players at the club which will make it easy to settle in.”
Lacazette, who has won 11 caps for France, was the second-highest scorer in Ligue 1 last season with 28 goals. He netted 129 goals in 275 matches in all competitions for Lyon after breaking into the first team in the 2009-10 campaign.
His league tally last season was bettered by only Paris St-Germain’s Edinson Cavani, with 35.
Lacazette has been linked with several top clubs and looked set to join Atletico Madrid before their transfer ban was upheld by the Court of Arbitration for Sport.