Declan Rice will be joining Arsenal from West Ham for a club-record $105 million, the club announced on Saturday.
Rice has officially signed a five-year deal with the Gunners till 2028.
Arsenal does have the option to extend the agreement by one year, though.
At the Emirates, Rice has received his favored number 41 jersey.
The transaction surpasses the £72 million Arsenal paid Lille for Nicolas Pepe in 2019 and sets a record transfer cost for two British clubs.
Rice’s acquisition comes barely shy of Chelsea’s £106.8 million January purchase of midfielder Enzo Fernandez from Benfica, the British record transfer cost.
Next week, the 24-year-old will go to the US with other recent additions Kai Havertz and Jurrien Timber for Arsenal’s preseason tour.