Paris Saint-Germain have confirmed the permanent signing of Mauro Icardi from Inter Milan for a fee of £45million plus £7.2million in bonuses.
The Argentine forward spent the season on loan with PSG, scoring 20 goals and providing four assists in 31 appearances.
And he has now put pen to paper on a permanent deal keeping him at Parc des Princes until 2024.
The news that the 27-year-old has committed his future to the French giants will come as a blow to Arsenal and Chelsea.
Icardi was previously a target for both London clubs, with the Gunners scouting for replacements for Pierre-Emerick Aubameyang and Blues boss Frank Lampard keen to recruit a forward.
A statement from PSG's official website confirmed the signing on Sunday morning, saying: "Paris Saint-Germain are pleased to announce the signing of Mauro Icardi's purchase option. The 27-year-old striker was loaned in 2019-2020 by Inter Milan.
"The Argentinian international (8 selections), who also has Italian nationality, is therefore now linked to the Capital Club until June 30, 2024.
"[The] Sixteenth Argentinian player in the history of Paris Saint-Germain, the native of Rosario played 31 games with the Red and Blue in 2019-2020, winning the title of champion of France and with an individual record of 20 goals and 4 assists."
Meanwhile, Inter thanked Icardi for his six years of service during which he scored 111 Serie A goals.
A statement on their official website read: "FC Internazionale Milano announces the transfer of Mauro Icardi to Paris Saint-Germain FC: the striker, born in 1993, has permanently moved to the French club.
"The Club thanks the player for the six seasons he spent with us and wishes him the best for his future professional career."
Icardi came through the ranks in Spain with Vecindario and Barcelona before moving to Sampdoria in 2011.
He then moved to Inter in an £11.7million transfer in 2013 and went on to score 124 goals and provide 28 assists over 219 appearances for the Italian giants.
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