Manchester City have signed goalkeeper Ederson Moraes for £35m from Benfica.
The 23-year-old broke into the Benfica team last March and won the Portuguese league and cup double this season.
“I like everything about Manchester City,” said Ederson, who will join the Premier League club when the transfer window opens on 1 July.
“With Pep Guardiola, City are growing more and more. He’s putting in place a young team for the future. Those were important factors in my decision.”
He added: “I have always had the dream to play in English football and now I’m going to make it true.
“Manchester City has an amazing squad. Next season, we will have to be focused to achieve the goal of winning trophies.”
Benfica announced the deal had been agreed last Thursday, when they also confirmed 50% of the fee will be paid to “third parties”.
But the transfer could not be concluded until the Premier League was satisfied its rules on third-party ownership were met.
Ederson has played for Brazil’s Under-23 side but is yet to make his full international debut. However, he is in the squad for two friendly matches – against Argentina on Friday and Australia on Tuesday.
City manager Pep Guardiola has been interested in Ederson for some time and made room in his squad by releasing Willy Caballero at the end of the season.
His arrival will place more pressure on Claudio Bravo, who has had a difficult first season since arriving from Barcelona to take over from Joe Hart as City’s number one.
England goalkeeper Hart has already confirmed he is leaving Torino after a season-long loan. In March he told BBC Sport he was “surplus to requirements” at City and did not see himself playing for the club again.
The deal for Ederson is Guardiola’s second signing of the summer, following the £43m arrival of Monaco’s Portuguese playmaker Bernardo Silva.
‘There’s a bit of Manuel Neuer in him’
South American football expert Tim Vickery on BBC Radio 5 live:
Ederson is a very different kind of keeper to Claudio Bravo in that he is bigger, much more physically imposing, and much younger.
He has ability with his feet and has a howitzer of a big kick, which paradoxically could help City play out from defence by forcing the opposing press back a bit. He looks confident on the ball, but how he copes with that style will be very important to how he does at the club.
There seems to be a bit of the Manuel Neuer in him. He’s big and commanding; there’s that chest of steel when he comes off his line very quickly. He looks a very promising goalkeeper indeed, but I’m not sure what his English is like, so communication could be a problem.
A world-record fee – but only in sterling
Gianluigi Buffon’s world-record move for a goalkeeper from Parma to Juventus in 2001 was reported to be worth 53m euros, or £32.6m at the time.
But at current exchange rates, Ederson’s 40m euros transfer is equivalent to £35m. It is a world record in sterling, but not euros.