Luis Figo has completed his world record £37 million sterling move from Barcelona to arch rivals Real Madrid - and immediately promised to re-establish his new team as the top side in Spain.
"I am going to try and win as much as I can with Real. I hope I will be as happy here as I was with Barcelona," he said at a press conference.
The fee was determined by the buy-out clause inserted in the Portuguese star's contract and eclipses the £35.7 million sterling Lazio paid Parma for Argentinian striker Hernan Crespo earlier this month.
"I want to make it known that I am very happy," said Figo, who has always favoured number seven during his career, but will wear number 10, as Raul has made number seven his own.
"I hope to contribute a great deal to raise the name of Real Madrid," Figo added.
The 27-year-old has signed a six-year deal and will have an annual salary of £2.98 million sterling as against the £1.88 million he earned at Barcelona.
Real president Florentino Perez had won the office on the back of the promise to sign the Euro 2000 star and to give the club, which is heavily in debt, a huge cash injection. He has also indicated that he wants to sign Juventus' French playmaker Zinedine Zidane. Real Madrid currently have a debt of approximately £156.3 million sterling, which Perez has promised to wipe out in five years.
Of the Figo move, Perez said: "I'm hoping this transfer won't cost us a penny. (Basketball star) Michael Jordan cost a fortune at the age of 32 because it was still possible to make a profit. Everything depends if the money can be recouped."
The irony is that few people in Spain believe Figo, who had become a loved symbol of Catalonian club Barcelona, truly wanted to move to Real Madrid.
The contract signed with Perez during the Real Madrid election campaign is thought to have been no more than a tactic to put pressure on Barcelona to improve his contract.
At that time, few expected Perez to be successful, but he had inserted a clause in the contract with the player requiring Figo to pay Real a fine of approximately £18.5 million sterling if he did not go through with the deal. That left Figo with no choice but to make the move to the Bernabeu.
Fans of both Barcelona and Real will find it strange to see Figo in a white shirt next season.
In his five years at the Nou Camp, no one gave more effort or commitment, a fact illustrated in the clearest terms during last season's Champions League semi-final against Valencia.
With Barcelona trailing 4-1 from the opening leg, which Figo had missed due to suspension, the Portuguese forward put his career at risk by agreeing to play despite carrying a serious leg muscle injury.
In five seasons, Figo played 172 league games and scored 30 goals. He helped the club to two league titles, two Spanish Cups, the European Super Cup, the Spanish Super Cup and the European Cup Winners' Cup.
Barcelona finished second in the Primera Liga last season and failed to lift any silverware, but Figo was outstanding, scoring nine league goals and setting up 12 more.
He scored another five in Barcelona's run to the last four in the Champions League before going on to star in Euro 2000, helping Portugal to the semi-finals.
Real finished a lowly fifth in the league last season and have not lifted the Primera Liga title since the 1996/'97 season. However they lifted the Champions League title by beating Valencia.
Meanwhile, Argentinian midfielder Redondo looks set to be the fall-guy of Figo's signing. Madrid have reportedly agreed a £12.8 million fee with AC Milan.
