Borussia Dortmund forward Christian Pulisic has been snapped up by Chelsea for £58m.
The Blues beat Liverpool and Arsenal to the punch, but they will have to wait for the American striker.
As part of the deal, Chelsea agreed to the player’s request to be loaned back to the German club until the end of the season.
The 20-year-old US international joined Dortmund as a youth player in 2015. He has scored nine goals in 23 games for the US.
“It’s a privilege to have signed for such a legendary club,” he said.
It is the highest transfer fee for an American player, beating the 20m euros Wolfsburg paid for John Brooks in 2017.
Dortmund director Michael Zorc said: “It was always Christian’s dream to play in the Premier League.
“That certainly has to do with his American background, and as a result we were unable to extend his contract.
“Against this background, we have decided to accept an extremely lucrative bid by Chelsea, given the low contract maturity.”
Pulisic’s contract at Dortmund was due to expire in June 2020.
The move has fuelled speculation that Eden Hazard could be on his way out of Stamford Bridge in the summer, possibly to Real Madrid. The La Liga giants have made no secret of their ambition to sign the Belgian star.