Paris: Paris Saint-Germain on Wednesday confirmed the signing of France international midfielder Yohan Cabaye from English Premier League outfit Newcastle United.
A statement released by the French capital club said that the 28-year-old had signed a contract at the Parc des Princes until June 2017.
"I was won over by the ambitious project at Paris Saint-Germain and I can't wait to join this exceptional squad and help the team reach its objectives in France and in Europe," said Cabaye, who passed a medical earlier in the day in Paris.
PSG president Nasser Al-Khelaifi added: "The transfer of Yohan Cabaye is further proof of the club's capacity to attract the best French and overseas players."
Reports in France indicate that PSG will pay 20 million euros (£16.5m pounds, $27.3m) for the player, plus a potential three million euros more in bonuses.
Cabaye must now compete for a place in a three-man PSG midfield where Italy duo Thiago Motta and Marco Verratti and his France colleague Blaise Matuidi have been first picks this season.
"It is hard for any player to turn down PSG at the moment. I accepted the offer immediately," he said at a press conference at the Parc des Princes as he looked forward to helping Laurent Blanc's side in their bid to retain the Ligue 1 title while also aiming for success in the League Cup and the Champions League.
"The midield here is very good and the coach has given me no guarantees but I have no problem with that. I think competition for places is a good thing."
PSG coach Blanc is a confirmed fan of Cabaye having given him his France debut in 2010.
Cabaye joined Newcastle in 2011 for £4.3million from Lille, with whom he won the Ligue 1 and French Cup double in his last season.
The 26-times capped midfielder only had good things to say about his time in England despite his initial disappointment at Newcastle's decision to reject an offer from Arsenal last summer and a difficult relationship with the Magpies' sporting director Joe Kinnear.
"I had two and a half extraordinary years there and discovered the Premier League with them," he said.
"I was at a good club but the league is so difficult that we struggled to get into the Champions League.
"We had a common agreement (for him to leave). Last summer it didn't happen but the opportunity came up this time."