Manchester United have confirmed Spain Under-21 goalkeeper David de Gea is to join them on a five-year contract.
De Gea flew to Manchester on Monday for a medical and although the deal is still to be completed, he has agreed to leave Atletico Madrid for Old Trafford and take Sir Alex Ferguson's summer spending beyond £50million.
The 20-year-old is rated as one of the brightest prospects in the game and Ferguson has no fears he will be able to fill the void left by the retirement of Edwin van der Sar.
De Gea, part of Spain's victorious squad at the UEFA European Under-21 Championships last weekend, told MUTV: "I feel very proud and I can't wait to start playing here.
"When a club the size of Manchester United comes in for you it obviously makes you very, very happy.
"I saw their interest as an extra motivation to work even harder to show off my ability.
"It's a great privilege to be part of a club like United and I'm keen to do my best and show what I can do."
United had known since Christmas that a replacement for Van der Sar would be needed.
Germany's Manuel Neuer was also linked with an Old Trafford move, although he eventually opted for Bayern Munich.
However, it is thought Ferguson had already put De Gea at the top of his wanted list and has persuaded the youngster he can adapt to life with the Barclays Premier League champions.
With Anders Lindegaard only arriving at the club in December, it now appears likely Tomasz Kuszczak will be allowed to leave, even though the Pole was on the bench for last month's Champions League final defeat to Barcelona.
Ferguson has now made three signings since that Wembley setback, starting with former Blackburn defender Phil Jones before Ashley Young completed his much-anticipated move from Aston Villa last week.
However, it is thought United are still in the hunt for at least one new face following confirmation of Paul Scholes' retirement.
Luka Modric and Alexis Sanchez were both of interest to Ferguson, although it appears neither will end up with the Red Devils, while huge doubt remains over United's ability to land Inter Milan playmaker Wesley Sneijder - even though they landed a record 19th league title last term.