The Belgian winger has been signed as a replacement for Arda Turan, who left the Vicente Calderon for Barcelona in a €41 million deal earlier this month
Atletico Madrid have confirmed the permanent transfer of Monaco winger Yannick Ferreira Carrasco on a five-year deal.
The Belgium international, 21, is believed to have cost the 2013-14 Liga champions around €20 million, with coach Diego Simeone seeing him as a like-for-like replacement for Barcelona-bound Arda Turan.
Having beaten the likes of Tottenham to Carrasco's signature, the Vicente Calderon club's sporting director Jose Luis Perez Caminero lauded the talent of the former Genk youth player who spent five seasons at Stade Louis II.
"We are very satisfied with the agreement we reached with Monaco, because Yannick is a player with huge prospects and an incredible future," he told the club's website.
"He is a player with great speed, who's excellent at driving the ball and has a great shot. He will contribute perfectly to our aim of increasing the quality of our team and the competitiveness in the group. I am convinced that he will contribute a lot to the team."
Carrasco joins Luciano Vietto and Jackson Martinez as Atletico arrivals in the Spanish pre-season as the club look to try to reclaim the Liga title they spectacularly won a little over 12 months ago.