Paulinho has confirmed he will join Tottenham with the Premier League club reportedly set to offload 10 players to fund the transfer.
The Brazilian midfielder, who won the Bronze Ball award as the third-best player at the 2013 Confederations Cup after Brazil's 3-0 win in the final over Spain, has been linked with Tottenham throughout the European summer.
The 24-year-old finally confirmed the deal on Monday at a press conference in Sao Paulo, Brazil, ending his three-year stint at Brazilian Serie A club Corinthians.
Paulinho added there had also been interest from Inter Milan but revealed Tottenham were the only club to put in a bid, which is believed to be £17 million.
"The other interest we got was from Inter Milan but the only offer came from Tottenham," Paulinho said.
"The proposal came, we sat down, analysed it and decided.
"It was a big decision to go to a big club.
"There comes a certain point when you need new challenges."
Having secured a starting position with the Brazilian national team in the past year, Paulinho will be looking to take another step under Andre Villas-Boas at Tottenham in the lead-up to next year's World Cup finals in Brazil.
The holding midfielder will be key to Villas-Boas plans for the 2013/14 Premier League season with the Portuguese manager planning to bring in at least four new players, while 10 others have been made available for transfer, according to the London Evening Standard.
Barcelona striker David Villa and Croatian teenagers Alen Halilovic and Tin Jedvaj of Dinamo Zagreb are expected to join Tottenham, while Villas-Boas is willing to part with Tom Huddlestone, Jermain Defoe, Scott Parker, Clint Dempsey, Emmanuel Adebayor, Benoit Assou-Ekotto and Heurelho Gomes if the price is right.
Villas-Boas has also reportedly earmarked Jake Livermore to go out on loan.
While Paulinho is looking forward to taking the next step, he promised to return to Corinthians later in his career.
"What I have to say to Corinthians fans, board and staff is 'see you soon'," Paulinho said.
"I will be back in no time, due to everything they have done for me.
"My individual titles are all thanks to the club.
"Corinthians will be in my heart for the rest of my life."
|Moreirense 1 Sporting Lisbon 4: Montero double keeps title hopes alive|
|Bournemouth 3 Bolton Wanderers 0: Howe´s men on the verge of the Premier League|
|Valencia 4 Granada 0: Hosts resume fourth place with thrashing|
|Turkish Super Lig Review: Besiktas back on top as Fenerbahce slip|
|Denis hit with five-game ban for dressing-room attack|
|Arabian Gulf League Review: Ajman relegated, Al Jazira close in on second|
|Zanetti: Icardi close to signing new deal|
|Pfaff hails Neuer´s consistency|
|Blanc: PSG can cope with physical demands|
|Bruce: Premier League must act on ticketing prices|
|Milan v Genoa: Off-field problems dominate build-up for Inzaghi´s men|
|Juventus v Fiorentina: Champions seek derby reaction with title in sight|
|Arminia Bielefeld v Wolfsburg: Hecking´s men in last-chance saloon|
|Real Madrid v Almeria: Rodriguez vows to fight until the end|
|Klopp ´an option´ to replace Guardiola at Bayern|
|Home form crucial for Premier League survival, says Bruce|
|Leicester City v Chelsea: Mourinho backs Pearson´s men to survive|
|Villarreal v Atletico Madrid: Marcelino´s men bidding to end winless run|
|Bundesliga title a footnote in Bayern´s grand plans|
|Robben back as Guardiola calls for focus|
|Mancini: Be patient with Shaqiri, Podolski|
|Klopp shrugs off Gundogan speculation|
|Run-in does not favour Barca - Luis Enrique|
|Mourinho takes further swipe at ´boring´ claims|
|Watford must spend smart, says Hyde|
|Allegri saddened by derby crowd trouble|
|Thompson ´mortified´ after throwing pole into team-mate´s leg|
|Hernandez not concerning himself with future|
|Stranzl to play no further part in Gladbach season|
|Rodgers keen to address lack of goals|
|Giroud cannot fire Arsenal to title - Henry|
|Do not destroy Sterling, says Campbell|
|Fournier: Lyon still dreaming|
|United performance Stones´ best - Martinez|
|Carver: Abuse from fans unacceptable|
|No shame in second place - Pellegrini|
|Humble Hazard thrilled with PFA honour|
|La Liga Preview: Real continue Barca pursuit against Almeria|
|Serie A Preview: Roma eye much-needed win|
|MLS Review: Toronto end drought, Red Bulls stay unbeaten|
|Chelsea to face Sydney in June|
|Liverpool can attract players - Rodgers|
|Bayern celebrate three-peat|
|Hernandez form forces Ancelotti´s hand|
|Hazard crowned PFA Players´ Player of the Year|
|Weidenfeller ruled out of Dortmund-Bayern semi-final|
|Weidenfeller ruled out of Dortmund-Bayern semi-final|
|Ligue 1 Review: Lens´ fate all but sealed, Lyon return top|
|La Liga Review: Hernandez rescues Real, Sevilla up to fourth|
|Paris Saint-Germain v Metz: Injuries prove a frustration for Blanc|
|Serie A Review: Juve made to wait as Parma fight another day|
|Celta Vigo 2 Real Madrid 4: Hernandez to the rescue again|
|Barcelona v Getafe: Iniesta keen to maintain momentum|
|Milan players in ´retreat´|
|United have opened the door for Liverpool - Van Gaal|
|Mourinho hits back at Arsenal fans´ ´boring´ jibes|
|Juve were own worst enemy in derby defeat – Allegri|
|Bundesliga Review: Gladbach victory ends title race|
|Udinese v Inter: Mancini braced for crucial week|
|Primeira Liga Review: O Classico tie leaves Benfica on the brink|
|Bayern Munich v Borussia Dortmund: Klopp prepares for final Klassiker|
|Russian Premier League Review: Zenit edge closer to glory, Amkar Perm off the bottom|
|Arsenal played with handbrake on - Wenger|
|Mourinho swerves Oscar discussion to hail Terry display|
|Bayern´s title confirmed as Wolfsburg stumble at Gladbach|
|Eredivise Review: Late leveller see Ajax secure Champions League berth|
|Arsenal 0 Chelsea 0: Oscar decision in the spotlight after stalemate|
|Van Gaal bemoans lack of fighting spirit|
|Van Gaal: United to assess Rooney injury|
|Torino 2 Juventus 1: First derby defeat since 1995 puts title celebrations on hold|
|Martinez hails Everton´s ´incredible mentality´ after beating United|
|Everton 3 Manchester United 0: Martinez outwits Van Gaal in comprehensive win|
|Dundee United 0 Celtic 3: Griffiths´ hat-trick edges champions closer to title|
|Alderweireld reveals he has broken shoulder bone|
|Hull City v Liverpool: Lovren expecting another test of patience|
|Leverkusen dealt Papadopoulos blow|
|Five in a row for Champions League winners Auckland|
|Vermaelen cleared to play in Barca run-in|
|Hughes buoyed by Odemwingie return|
|Allardyce hails Adrian heroics|
|Villa confident of staying up - Sherwood|
|Zorc rejects talk of Gundogan departure|
|´Happy´ Hazard rejects talk of Chelsea exit|
|A-League Review: Victory claim Premiers´ Plate|
|Pochettino hoping to strengthen|
|Pjanic critical of Roma spirit|
|Rodgers: No room for error now|
|MLS Review: Revolution win big as Dynamo, Kansas City draw|
|Garcia rues sloppy build-up play|
|Jokanovic eyes title for Watford|
|Blanc: PSG have moved on|
|Hazard worth ´£100m each leg´ - Mourinho|
|Ferguson: United boss can break my trophy record|
|Levante leap clear of La Liga drop zone|
|Primeira Liga Review: Gil Vicente claim vital win, Estoril and Rio Ave held|