Paris Saint-Germain have reached an agreement with Monaco to sign striker Kylian Mbappe on a season-long loan with an obligation to buy and make the France international the most expensive teenager in football history.
PSG's deal with the Ligue 1 champions includes a compulsory purchase option of EUR180million, which will be triggered at the end of the season, with the player agreeing terms on a contract until 2022.
The deal will make Mbappe the second most expensive player in history after Neymar, who joined PSG from Barcelona for EUR222m this month.
The capital club are believed to have structured the deal to ensure that they do not fall foul of UEFA's Financial Fair Play regulations, given the investment they have already made in Neymar in terms of transfer fee, agent fees and the player's contract, which is reportedly worth EUR560,000 per week.
Mbappe, 18, was linked with a host of major European clubs following his exceptional performances for Monaco last season as they claimed the Ligue 1 title and reached the Champions League semi-finals.
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. 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," he said.
"I really wanted to be a part of the club's project, 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 champions Madrid had agreed a fee of EUR180m with Monaco last month but the rumours quickly dissipated.
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.