Arsenal have signed Martin Odegaard from Spanish side Real Madrid in a deal worth as much as £34m, the Premier League side has announced.
The 22-year-old has put pen to paper on a five-year deal running until the summer of 2026 and is Arsenal's fourth signing of the summer.
Odegaard spent the second half of last season on loan at Arsenal and was a big hit at the club despite not showing his full potential.
Re-signing Odegaard has always been a top priority for Arsenal this summer but they weren't sure whether he would be available.
Carlo Ancelotti's return to Real Madrid made it difficult to prise Odegaard away but the Spanish side had a sudden change of heart at the start of the week.
Odegaard didn't train with the Madrid first-team and the Spanish giants have now decided to cash in on the Norway international to boost their kitty to sign Kylian Mbappe.
There is no buy-back clause in Odegaard's move to Arsenal but Madrid do have first right of refusal in the future if Arsenal receive any bids.
Ben White - 23
— WhoScored.com (@WhoScored) August 18, 2021
Martin Odegaard - 22
Emile Smith Rowe - 21
Albert Sambi Lokonga - 21
Gabriel Martinelli - 20
Bukayo Saka - 19
🔮 The present might be painful, but at least the future is bright pic.twitter.com/TUrscFvFc6
Leicester's James Maddison was heavily linked with a move to Arsenal but the England international would have cost twice as much as Odegaard.
Odegaard made 14 league appearances for Arsenal last season, playing a direct hand in three goals, averaging more key passes per 90 (2.1) than any other player at the club.