Tottenham Hotspur have confirmed the permanent signing of Mathys Tel, who becomes the first acquisition of the Thomas Frank era.
The 20-year-old first touched down in North London on transfer deadline day during the winter window and made 20 appearances for Ange Postecoglou's team in the second half of the season.
Tel only managed three goals and one assist in that time, but he nevertheless picked up a Europa League winners' medal and convinced the club of his potential.
One day after Tottenham were said to be on the brink of sealing a permanent deal for Tel, the Lilywhites have announced the Frenchman's capture on a six-year contract until the summer of 2031.
"We are delighted to announce the permanent signing of Mathys Tel from FC Bayern," a statement read. "Mathys joined the Club from the Bundesliga side in February on loan until the end of the season with an option to make the move permanent.
"We can confirm we have agreed a deal with Bayern that will see the France Under-21 international sign a contract that will run until 2031 when his current loan deal ends on 30 June."
Tel transfer fees broken down as Spurs confirm permanent signing
As Tottenham alluded to in their statement, the club possessed an option to keep Tel on the books for good, although it is understood that they have managed to negotiate a lower fee.
Had Spurs triggered that clause, they would have paid Bayern €55m (£46.8m), but the Europa League winners are believed to have driven the price down to a fixed fee of €35m (£29.8m).
Bayern could receive an additional €5m (£4.3m) in add-ons, though, and Tottenham already paid the Bundesliga champions a €10m (£8.5m) loan fee to bring Tel to the Premier League in January.
As a result, the total cost of the operation could reach €50m (£42.6m) if all add-ons are hit, although Tottenham's transfer chiefs deserve their plaudits for negotiating a €20m (£17m) discount on the fixed fee itself.
Tel signs for Spurs: Who could Frank target next?
Tel represents Spurs' first signing since Frank replaced Postecoglou and their second acquisition of the summer window; Kevin Danso's loan move from Lens was made permanent for £21m at the beginning of the month.
However, Tottenham will now turn their attention to welcoming new faces to their squad, and head coach Frank is understood to be driving efforts to reunite with Brentford attacker Bryan Mbeumo.
The Lilywhites have supposedly received encouragement in their pursuit of the Cameroon international, who is also wanted by Manchester United, and they are said to have held internal talks over a move for another Bees frontman too.
A new centre-back may also be on the agenda if Atletico Madrid-linked Cristian Romero leaves, but Tottenham already have a potential solution in that area of the field.