Brazilian top-flight football club Santos has signed 16-year-old sensation Gabriel Barbosa to a three-year contract with a 50-million-euro release fee.
The club announced Tuesday that it had beaten off interest from rival clubs in Brazil and Europe by signing the young star, known as Gabigol, reports Xinhua.
"We are very happy because our family are Santos supporters," Gabigol's father Valdemir Silva Almeida told Globoesporte.
"There were clubs in Europe interested in him but we are very happy that he has joined Santos."
Gabigol follows in the footsteps of Pele and Neymar to join Santos as teenage prodigies.
The deal comes just months after the club also secured fellow 16-year-old Victor Andrade with a hefty release clause.
Gabigol, currently top-scorer in Sao Paulo's Under-17 championship with nine goals, already boasts several sponsorship deals including a lucrative contract with Nike.
This is something I have wanted since I was eight years old," Gabigol said. "I still have a lot to learn but I want to train as hard as I can and climb the ranks as soon as possible."