Manchester United have completed the signing of Jadon Sancho on a five-year deal with a further 12-month option, the club confirmed on Friday.
Borussia Dortmund had previously ratified the deal on 1 July, saying the transfer fee is "fixed" at €85 million ($99.98m). United also confirmed that the deal was initially agreed upon, subject to a medical following of England's participation in Euro 2020.
Sancho and United teammate Marcus Rashford both missed penalties in the final of the tournament, as Italy won 3–2 after extra time.
Sancho said: "The chance to join Manchester United is a dream come true and I can't wait to perform in the Premier League. It's a young and exciting team and I know, we want to bring success." Can develop something special that fans deserve."
The deal officially ends a transfer saga that has been going on for nearly 18 months.
United manager Ole Gunnar Solskjaer said: "Jadon embodies the type of player I want to bring to the club, he is a forward in the best traditions of Manchester United. He will be an integral part of my team for years to come And looking forward to seeing it bloom.
“His goals and assists record speak for themselves and he will also bring tremendous speed, flair and creativity to the team. Old Trafford will provide him with the platform he needs to unleash his untapped talent and perform at the highest level of his own. For ages, Jadon has already achieved a lot and has shown the courage to prove himself by going abroad.
"We all look forward to welcoming Jadon to the team as we prepare for the new campaign."
United tried to sign Sancho last summer but failed to agree a fee with Dortmund. The German side reduced their demand by £108 million ($148 million) and United were finally able to reach a deal this summer after looking back at at least two bids.
This is his home.
— Manchester United (@ManUtd) July 23, 2021
This is where he belongs.
Jadon Sancho is 𝗨𝗡𝗜𝗧𝗘𝗗.#MUFC x @Sanchooo10 pic.twitter.com/LAIBn7ie7V
Sources have told ESPN that Sancho's former club, Manchester City, is due 15% of the profit Dortmund has made on the deal - expected to be around €11.2m ($13.17m).
Sancho left Dortmund after making 137 appearances after scoring 50 goals in four years in Germany. He was named in the Bundesliga squad of the season in 2019 and 2020.
Dortmund CEO Hans-Joachim Watzke said he hoped to retain Sancho this summer, but the 21-year-old has told the club he wants to move to Old Trafford.
"It was Jadon's exemplary desire," Watzke said. "We would have liked to have him.
"We reached a general agreement with Manchester United on the transfer of Jadon Sancho, which is pending in full, as there are still some formalities to be agreed upon and the medical examination to be completed."