Alexis Sanchez and Henrikh Mkhitaryan have sealed their respective moves to Manchester United and Arsenal, the two clubs confirmed on Monday.
The swap deal was finalised after both players secured their work permits, having already undergone medicals at the weekend.
Sanchez had entered the final six months of his contract at the Emirates Stadium and had also been linked with Manchester City and Chelsea.
However, United’s financial clout saw them win the race for the Chile international, who put pen to paper on four-and-a-half-year deal at Old Trafford.
“I am thrilled to be joining the biggest club in the world,” Sanchez told his new club’s official website.
“I have spent three-and-a-half wonderful years at Arsenal and I bring with me very positive memories of that great club and its fans.
“The chance to play in this historic stadium and to work with Jose Mourinho was something I could not turn down.
“I am very proud to be the first Chilean player ever to play for United’s first team and I hope I can show our fans all around the world why the club wanted to bring me here.”
Red Devils boss Jose Mourinho added: “Alexis is one of the best attacking players in the world and he will complete our very young and talented group of attacking players.
“He will bring his ambition, drive and personality, qualities that make a Manchester United player and a player that makes the team stronger and the supporters proud of their club dimension and prestige.”
Meanwhile, Mkhitaryan moves in the opposite direction on a “long-term contract” after failing to establish himself in Mourinho’s side.
The Armenia international helped United to the EFL Cup and Europa League titles in his first season at the club, but struggled for regular game time this term, making 22 appearances in all competitions.
“I’m very happy that we could finish this deal and I’m very happy to be here,” Mkhitaryan told the Gunners’ official website.
“It’s a dream come true because I’ve always dreamed of playing for Arsenal. Now that I’m here, I’ll do my best for this club to create history.”
Arsenal manager Arsene Wenger said: “Henrikh is a very complete player. He creates chances, he defends well, he can absorb distances and he’s very committed as well. I must say he’s a player who has all the attributes.”
Mourinho added: “I would like to wish Henrikh all the success and happiness that I am sure he is going to get. He is a player that we will not forget, especially for his contribution to our Europa League victory.”
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