Colombia midfielder Jefferson Lerma has completed a club-record move from Levante to Bournemouth in a five-year deal.
The Premier League side and the La Liga club are reported to have agreed a £25m fee which would overtake the Cherries' record outlay, set last summer when they signed Nathan Ake for £20m from Chelsea.
Bournemouth were reportedly pursuing the 23-year-old before the World Cup and have seen off interest from several Bundesliga sides.
Lerma, who handed in a transfer request at Levante last week, told Bournemouth's website: "I'm so happy to be an AFC Bournemouth player.
"The transfer has been very long because it took a while for the clubs to reach an agreement, but the most important thing is that I am here now and everyone got what they wanted in the end.
"I have always loved the Premier League style of football and am very happy to have this opportunity. I am looking forward to success and doing important things for this club."