Manchester City have completed the signing of midfielder Mateus Nunes from Wolverhampton for £53m.
The deal includes a sell-on clause of 10% in favor of Wolves of any profit City make on the 25-year-old in the future.
The Portugal international, who has 11 caps for his country, has signed a five-year contract with City.
“I am very happy to be joining Manchester City, the European champions and a club I have admired for so long,” Nunes said.
A previous Manchester City bid for Nunes was rejected, with Wolves sticking to a fee closer to their asking price of more than £60m.
Nunes had recently missed training with Molineux after stating his desire to join Pep Guardiola’s side.
“The opportunity to work under Pep Guardiola, one of the greatest coaches of all time, alongside some of the best players in the world, was something I could not turn down,” Nunes added.
“I’ve learned a lot during my season at Wolves and I’m excited to keep improving in the Premier League, which is the division that brings out the best in me. I’m really excited to get going and meet the fans and hopefully be part of more success at City.”
Wolves signed Nunes on a five-year contract last summer, paying a club record £38m to Sporting Lisbon.
He was a key figure during the second half of last season as Wolves avoided relegation and finished 13th in the table.