Bayern Munich have completed the signing of winger Leroy Sane from Manchester City.
Sane, 24, has agreed a five-year contract with the Bundesliga champions, who confirmed the transfer on Friday.
The Germany international will initially cost Bayern €49million (£44.5m), rising to €60m (£54.5m), Stats Perform News understands.
Bayern CEO Karl-Heinz Rummenigge said: "We're very happy to welcome Leroy Sane to FC Bayern. He is an outstanding player who has proven his qualities over the past few years, especially in the national team.
"Our goal is to gather the best German players at FC Bayern and the signing of Leroy emphasises this goal. I would like to congratulate Hasan Salihamidzic on successfully concluding the transfer."
Salihamidzic, Bayern sporting director, added: "We're delighted Leroy is to be a Bayern player. Leroy is a difference-maker and will strengthen our team with his quality. With Serge Gnabry, Kingsley Coman and Leroy, we're now even better equipped at a very high level in the wide positions that are important for our game.
"I would like to thank Manchester City for the trusting and constructive negotiations. I would also like to thank our president and chairman of the supervisory board, Herbert Hainer, who supported us with this transfer right from the start under the difficult circumstances of coronavirus."
Speaking ahead of the move on Wednesday, Pep Guardiola wished the player all the best at the City boss' "fantastic" former club Bayern.
Sane joining Bayern is a switch that has been mooted since last year, however the German side were said to be unwilling to match City's previous asking price.
He then suffered a serious knee injury in the Community Shield last August and only returned to the pitch last month.
Sane joined City from Schalke in 2016 in a deal reportedly worth an initial £37m (€40m) and went on to show flashes of immense ability during his first campaign.
He elevated his game to the next level in 2017-18 and won the Professional Footballers' Association's (PFA) Young Player of the Year award as Guardiola's side clinched the Premier League title.
Sane helped City to another top-flight crown the following year and scored 16 goals across all competitions, though links with Bayern became commonplace towards the end of 2018-19.
Much of Sane's time on the sidelines through injury coincided with strengthening reports of him desiring a move to Bayern, and on June 19 Guardiola confirmed the club had been informed he would not be signing a contract extension.
As such, Guardiola accepted Sane was either to be sold this year or leave on a free transfer in June 2021.
City have at least avoided the latter scenario, though the fee of up to €60m is significantly less than the £137m (€150m) asking price they are alleged to have set in 2019.