Real Madrid have completed the signing of from bitter rivals Barcelona for £23 million.
Following a move to the Spanish champions for a world record transfer fee of £83 million on deadline day last January, Jose Mourinho has swooped to sign with just hours left in this window. (See all Sky Bet's transfer specials)
After weeks of speculation, Real held off a late bid from Premier League champions Manchester City, thought to be in the region of £25 million to add to their squad ahead of a testing time of the season in which they face Barcelona and Manchester United twice each in a month.
Sky Bet suspended betting on the move following a flurry of bets late on Wednesday night and Real boss Mourinho revealed that he jumped at the chance to acquire another potential superstar.
He told skysports.com: "When you spot an opportunity to sign a player with such tremendous potential you have to act fast and make it clear that your club is the best place for them to be.
"It has been a tricky 12 months for who has had to carry around the tag of being the most expensive player in the world at such a young age, but I reckon we are yet to see the best of this youngster."
Xavi Alonso has already welcomed his new teammate to the Bernabeu on Twitter, saying: "Looking forward to linking up with 'El Gordo' and winning some trophies this season."
Sky Bet has 30 transfer specials available until the 11pm deadline.