Shanghai Shenhua have completed a deal to bring former Manchester United striker Carlos Tevez to the Chinese Super League (CSL).
Shenhua, who are coached by former Chelsea and Tottenham midfielder Gus Poyet, made the announcement on Thursday, after the Argentina star arrived in Shanghai for a medical ahead of his unveiling.
"Shanghai Greenland Shenhua FC reached a transfer agreement with Argentina Club Atletico Boca Juniors. Carlos Alberto Tevez is officially joined Shanghai Shenhua,'' a club statement said.
- AFC Champions League (@TheAFCCL) December 29, 2016
Shanghai Shenhua paid a £9 million ($11m) transfer fee to get the striker, and while it was initially said he would be paid a world-high of £615,000 ($760,632) a week to make the move, reports in China say it will be significantly less.
The total deal over two years is reported to be £32.5m ($40m) including the transfer fee, which works out at £226,000 per week and that would place Tevez significantly behind the reported salaries for Cristiano Ronaldo (£288,000 after tax) and Lionel Messi (£256,000 after tax).
Boca would also have to refund 60 percent of the transfer fee should Tevez leave Shanghai Shenhua after one year.
The CSL side have always brought in big-name players from Europe, with ex-Chelsea forward Demba Ba, Obafemi Martins and former Inter Milan midfielder Fredy Guarin among the long list of recruits.
Having finished fourth in the CSL this year, Poyet made Tevez his priority signing, and is keen to add Paris Saint-Germain winger Angel Di Maria to his squad.
Tevez's old club Boca Juniors all but confirmed the big-money move when they issued a statement that read: "Good luck Carlitos, you will always be in our hearts."
This deal has further strengthened the CSL as a major powerhouse in world football, with Chelsea's Brazilian midfielder Oscar also taking his skills to China last week for a fee of £60 million.