Real Madrid has officially announced the acquisition of Kylian Mbappé on a free transfer, marking the end of their protracted pursuit of the star player.

“Real Madrid C.F. and Kylian Mbappé have reached an agreement that will see him play for the club for the next five seasons,” the Spanish champions confirmed in a statement.

Last month, Mbappé declared his intention to leave Paris Saint-Germain upon the expiration of his contract at the season’s end.

“Dreams do come true. I am incredibly happy and proud to join my dream club,” Mbappé shared on X. “I can’t put into words how excited I am. Looking forward to meeting you, Madridistas. Thank you for your amazing support. ¡Hala Madrid!”

Insiders informed ESPN that Mbappé has signed a five-year contract worth €15 million ($16.2 million) annually after taxes, with a €150 million signing bonus distributed over the duration of the deal.

Real Madrid, the current LaLiga champions, secured their 15th European Cup by defeating Borussia Dortmund 2-0 at Wembley on Saturday.

Mbappé almost joined Real Madrid in 2017 after his standout performances for Monaco but chose PSG instead when they offered a record €180 million ($195.4 million) for a teenager.

During his tenure at PSG, Mbappé became the club captain and all-time leading scorer with 255 goals, winning six Ligue 1 titles in seven seasons.

He won the World Cup with France in 2018 and scored a hat-trick in their World Cup final loss to Lionel Messi’s Argentina in Qatar four years later.

Despite his individual success, Mbappé could not lead PSG to a Champions League title, losing the 2020 final and failing to score in this season’s semifinals against Dortmund.

At 25, Mbappé is already the third-highest scorer in France’s history and previously came close to joining Madrid two years ago, ultimately extending his contract with PSG until June 2024, a decision he has no regrets about.

Joining a formidable Real Madrid attack featuring Vinícius Júnior, Jude Bellingham, and Rodrygo, Mbappé aims to contribute to France’s quest for a third European Championship this summer in Germany. However, he was not included in the preliminary squad for the Paris Olympics in July and August.