The two clubs announced on Friday that Atletico Madrid had acquired Dutch forward Memphis Depay from La Liga rivals Barcelona for three million euros ($3.25 million).
The 28-year-old, who struggled with injuries at Camp Nou, has signed a two-and-a-half year contract with Atletico.
Atletico could incur additional fees of up to €1,000,000 as a result of the transfer.
Barcelona claimed that the agreement included an option for them to purchase Yannick Carrasco, a versatile international from Belgium, from Atletico.
Depay joined Barcelona from Lyon in 2021 and scored 14 goals in 42 games for the Catalan giants.
Depay only made four appearances for Xavi Hernandez’s team this season due to injury issues and the addition of Polish striker Robert Lewandowski from Bayern Munich.
Depay, who has scored 43 goals overall for the Netherlands, was the only goal scorer at the 2022 World Cup.
After a dismal experience with Manchester United, he had a successful five-year tenure at Lyon.
Atletico Madrid has struggled this season and is currently fourth in La Liga, 13 points behind leaders Barcelona. They were also eliminated from the Champions League.
Joao Felix, who left Madrid earlier this month to join Chelsea on loan, will likely be replaced by Depay.