Spain midfielder Santi Cazorla has signed for Arsenal and joined up with the pre-season training camp in Germany after completing a £15 million move from Malaga.
Cazorla: 'My last chance to move to a big club'
The Spanish club's financial problems initially delayed the deal being finalised but he is now on course to make his Arsenal debut in Sunday's friendly against Cologne after the announcement was made.
Arsenal manager Arsene Wenger said: "Santi Cazorla is a great signing for us. He is a player with good experience at both club and international level, who will add significant quality to our squad.
"He is a versatile, attacking midfield player who can play comfortably on either side of the pitch or centrally. He has good pace, is technically gifted and will be a huge asset to Arsenal Football Club. We are delighted that he is joining us."
Cazorla, who was voted Spanish Player of the Year in 2007, said: "I'm so happy to be joining Arsenal. This is a club with great players, a fantastic stadium and huge support. The club has one of the best managers in football and their style of play is recognised and admired all over the world."
Seven years have passed since Arsenal lifted any silverware, but Cazorla believes fortunes will change following a flurry of transfer activity in north London that has seen Lukas Podolski and Olivier Giroud join the club.
"There's a very good squad here and we want to fight for titles and win titles,'' Cazorla said. "The club has made a big step to sign players to have a better team and meet the expectations of the fans. I'm very happy to be here, Arsenal are a huge club. I hope to win trophies here, that is what I want.''
Cazorla joined Malaga just 12 months ago for €19 million, and the playmaker's performances in guiding the club to fourth spot in La Liga and a Champions League qualifying position should have increased his value even further.
However, last week Malaga released a statement via the club website claiming that a period of "internal financial restructuring" was required to meet UEFA's incoming Financial Fair Play regulations, meaning Cazorla is available at a cut-price.
Cazorla could soon be joined at the Emirates by another La Liga-based midfielder, with Real Madrid's Nuri Sahin seemingly set to arrive on loan for the 2012-13 season. Jose Mourinho has said the Turkey international is free to leave the Bernabeu.