Unai Emery has confirmed Arsenal beat a host of "top European teams" to sign Nicolas Pepe as they broke their transfer record on Thursday.
Despite a much-reduced transfer budget, the Gunners were able to negotiate a staggered payment plan, common in the sport, with Lille to land the star winger.
Napoli were understood to have been looking at a deal, while Liverpool have previously lodged an interest.
Emery, who earlier in the window failed to agree a fee with Crystal Palace for Wilfried Zaha, is thrilled to have added a star name to his ranks.
Head coach Unai Emery said: "Nicolas is a highly-rated and talented winger who was wanted by many of the top teams in Europe.
"Signing a top-class winger has been one of our key objectives in this transfer window and I'm delighted he's joining.
"He will add pace, power and creativity, with the aim of bringing more goals to our team."
