The Chilean's capture has been finalized following the conclusion of the Copa America and the forward signed a deal with the European champion.
Fee: €37.5 million
Contract: June, 2016
Barcelona has officially completed the signing of Alexis Sanchez from Udinese in a deal worth a total of 37.5 million euros.
The attacker had been given permission to leave the Chilean national squad's preparation for the Copa America in anticipation of the transfer being finalized late last month, but the two sides were unable to reach an agreement and the move was therefore put on hold until the conclusion of the continental competition.
Barcelona had hoped to negotiate a player plus cash deal for Sanchez, but both Bojan Krkic and Jeffren Suarez rejected moves to the Serie A side.
Weeks of wrangling followed, but the deal was finally confirmed on Thursday, with the 22-year-old signing a five-year deal after agreeing personal terms and passing a medical according to a statement on Barcelona's website. The deal will include 26 million euros up front with an addition 11.5 million euros in variables, with everything set to be finished off on Monday.
The Chilean winger/second striker will become a part of the most feared forward line in the game, joining David Villa and Pedro as options for a starting place alongside Lionel Messi in Pep Guardiola's first team.
Sanchez became a target for the Catalans during the 2010-11 season when his explosive performances helped lead Udinese to fourth place in Serie A, which earned the club a place in next season's Champions League.
A new beginning | Chilean attacker will look to continue his rise with European champions
He had shown signs of his promise in the previous season with his club side as he became a regular starter for the first time, and went on to earn global prominence as one of the stars of Chile's swashbuckling run to the last 16 at the 2010 World Cup in South Africa, where it was eventually beaten by Brazil.
Sanchez leaves Udinese after five years with the club, during which time he spent seasons on loan with Colo Colo and River Plate. He made 111 appearances for the Friuli outfit, scoring 21 goals.
Barcelona fans will be hoping his lightning pace can help to freshen up the attack in the face of extra demands ahead of the club in 2011-12, with the Club World Cup and European Super Cup added to the calendar following the team's Champions League triumph over Manchester United last month.