Arsenal have agreed a deal to sign Spanish international forward Jose Antonio Reyes from Sevilla for an undisclosed fee, the Primera Liga club have confirmed.
"I'm leaving the best team in Spain to join the best team in England," the 20-year-old said at a news conference called to announce his departure.
Sevilla president Jose Maria del Nido said the club had a confidentiality pact with Arsenal regarding the cost of the transfer but he made it clear that the operation was of huge benefit to the Spanish club.
"We said we would only sell Reyes if we received an offer over and above his market price," Del Nido said. "The transfer is for more than Bayern Munich paid for (Roy) Makaay, more than Barcelona paid for Ronaldinho and more than Real Madrid paid for (David) Beckham."
The cost of Beckham's move from Manchester United before the start of the current season was €25 million, plus up to €10 million depending on Real's performances in the Champions League over the next four years.