Maximo Perrone has been officially acquired by Manchester City from Velez Sarsfield.
Following Julian Alvarez's summer transfer from River Plate to the Premier League, Maximo is the most recent player from South America.
The 20-year-old has committed to the defending Premier League winners on a five-and-a-half-year contract.
According to Reportminds Blog, Velez received a payment from City in the region of 9.3 million euros.
As soon as Perrone completes his involvement in the South American U20 Championship, he will join Pep Guardiola's squad.
The Argentinian made 33 appearances while playing for Velez, scoring three goals and dishing out two assists.
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