Chelsea have signed Joao Pedro from Brighton in a deal worth up to £60m.
The 23-year-old has signed an eight-year deal and is already in the USA with his new Chelsea team-mates for the Club World Cup.
Pedro will be able to play for Chelsea at the tournament as clubs are allowed to register players between June 27 and July 3.
It means the Brazil international could make his Chelsea debut in the Club World Cup quarter-finals against Palmeiras in Philadelphia on Saturday and has the chance to win a trophy within his first month at the club.
"I grew up watching the Premier League, and Chelsea were a club that won trophies. So, when you join Chelsea, you can only think one thing: to win trophies," he said.
"Every competition, you have to think, 'I play for Chelsea and that is my ambition'."
Newcastle had also been interested in Pedro and had a bid of around £50m rejected, but it is understood Pedro only wanted to play for Chelsea.
Watford, who sold Pedro to Brighton for £35m in 2023, will be due 20 per cent of the profit from this deal. Chelsea have good relations with Brighton, who have a sell-on clause in the deal.
The Blues view Pedro as a versatile forward who can play as a No 9 or across the front line. He scored 30 goals in 70 appearances
Hurzeler: Pedro move is an excellent deal for Brighton
Pedro's transfer takes Chelsea's spend on Brighton players to £260m since 2022. He has followed Marc Cucurella (£63m), Robert Sanchez (£25m) and Moises Caicedo (£115m) in making the move to west London.
Brighton head coach Fabian Hurzeler says selling Pedro to Chelsea is an "excellent deal" for the club
Hurzeler said: "This is a good move for all parties. It's an excellent deal for the club, and a good return on a significant investment in an area of the pitch where we have a lot of competition and are already well served in terms of our attacking talent.
"It's also an exciting move for Joao: it gives him the opportunity to play Champions League football this coming season, and he will of course be keen to cement his position in the Brazil team ahead of the World Cup next summer.
"Joao has given us some wonderful moments - during my time and before I came to the club - so on behalf of everyone I would like to thank him for his service over the past two seasons and wish him the best for the future."
Brighton's transfer model will not alter following Pedro exit
Sky Sports News' James Savundra and Elliot Cook:
Brighton had no intention of selling Pedro in this window but were aware of mounting Premier League interest.
The 23-year-old's ambition to play at the top level of European football has been no secret and he's also keen to put himself firmly in the picture for next summer's World Cup.
Brighton will continue to sell players when they consider it the right time for both themselves and the player - as long as the value is matched. They will not stand in a player's way if their value is met.
After Pedro was sent off against Brentford and was involved in an altercation during training with Jan Paul van Hecke, it seemed an exit this summer could happen.
While he is not regarded as a troublemaker, the incidents did not go down well internally. Pedro moved to Brighton from Watford in May 2023 and had 40 goal contributions in all competitions across 70 games.
He was the top scorer in the Europa League group stage during the 2023/24 season, including a late winner against Marseille.
The fee from Chelsea represents a significant profit on a player who helped the club achieve a top-10 finish last season and who was their top scorer in their first campaign in Europe.
The club will bide their time when it comes to assessing their attacking plans. Their existing options include record signing Georginio Rutter, Danny Welbeck, Evan Ferguson and new signing Charalampos Kostoulas - whom the club have extremely high hopes for.
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