Paris Saint-Germain have triggered the option to sign Inter Milan striker Mauro Icardi on a permanent basis.
The Argentina international spent the 2019/20 season on loan at the Ligue 1 club, which was cancelled last month due to the coronavirus pandemic. The Parisians were subsequently awarded the title.
"Paris Saint-Germain are delighted to announce the signing of Mauro Icardi on a permanent deal, following the striker's loan from Inter Milan during the 2019-2020 season," the French club said.
Given the current economic situation the French champions succeeded in reducing the fee "to under" €60 million (Dh245m), as opposed to the €70 million initially requested, according to reports in France and Italy.
Icardi, 27, has signed a four-year contract with the French champions, with PSG suitably impressed with the striker's return of 20 goals in 31 appearances despite competing with Edinson Cavani, Kylian Mbappe and Neymar for a starting place.
Uruguayan striker Cavani, 33, the club's record goalscorer, is out of contract next month and has been linked with a move to Spain with Atletico Madrid as well as a return to Italy, possibly to replace Icardi at Inter.
Inter manager Antonio Conte made clear to Icardi last summer that he was not part of his plans, with Romelu Lukaku signed from Manchester United for big money. The Belgium international went on to forge a prolific partnership with Lautaro Martinez before Serie A was also halted by the Covid-19 outbreak.
"The club thanks the player for the six seasons he spent with us and wishes him the best for his future professional career," Inter Milan said in a statement.