Atletico Madrid's Jackson Martinez has been signed by Chinese Super League side Guangzhou Evergrande for the record sum of $45 million.
The Colombia striker has signed a four-year deal with the Chinese side and will join the team for training in Dubai next week, Xinhua reported.
The Guangzhou Evergrande deal for the 29-year-old has broken the Asian transfer record.
The deal to buy Martinez comes on the heels of the club's decision to sell Brazilian Elkeson de Oliveira Cardos to Shanghai SIPG for $28 million in January.
"We have raised 120 million euros on the stock market, and we sold Elkeson for nearly 20 million," the club's spokesman said.
"The club, as a listed company, is now in a good condition in cash flow," the official added.
Elkeson was Evergrande's top scorer in the last season while Martinez scored only three goals in 22 appearances for Atletico.
"The acquisition of Martinez will promote the image of Chinese football as a whole, and attract more world-class players to China," the official said defending the deals.
The Colombian follows other high-profile players such as Chelsea midfielder Ramires and Serie A duo Gervinho and Fredy Guarin in joining Chinese clubs this year.
Jiangsu Suning's $36 million deal with Ramires last week had set the Asian record. With Chinese clubs preparing bigger war chests, these records maybe short-lived.