Michael Olise has joined Bayern Munich from Crystal Palace, the clubs both announced on Sunday.
Olise, who has a five-year contract with Bayern, scored 10 goals in 19 Premier League games last season, despite missing much of the year with injuries.
"Michael Olise is a player who can make the difference and attracted great interest with his style of play," Bayern board member for sport Max Eberl said in a statement.
"We want new impetus in our team, new energy, new ideas - that's what players like Michael Olise stand for. During the talks, he quickly signaled that he really wanted to join FC Bayern. We're very much looking forward to him. He will enrich our game."
Sources have told ESPN that the 22-year-old winger had strong interest from Manchester United, Chelsea and reportedly Newcastle but ultimately decided on a Bundesliga move, linking up in attack with Bayern No. 9 Harry Kane.
"This is a great challenge and exactly what I was looking for," Olise said in a post on Bayern's X.
Palace chairman Steve Parish said in a statement: "We are hugely proud of what Michael has achieved at Crystal Palace, a club where he has developed greatly as a player.
"We respect his desire to further test himself at the highest level of world football, and I would like to personally wish him the very best for his next adventure with Bayern Munich in Germany which I'm sure we will all follow closely."
Chelsea's attempts to sign Olise were slowed by the potential cost of the deal, sources told ESPN, with the French under-21 international set to cost Bayern around £60 million ($76.8m) after they activated the release clause in his contract.
Olise made 19 appearances for Crystal Palace last season and scored 10 goals despite missing much of the season due to a hamstring injury.
He is set to travel to Paris in July as he has been picked for the France squad that will participate in the Olympic football tournament.