AC Milan have completed the signing of United States forward Christian Pulisic from Chelsea, the Serie A club announced Thursday.
Milan beat off competition from Juventus, Lyon and Galatasaray to sign the player after moving closer to Chelsea's £20 million ($25.9m) transfer valuation last weekend, sources told ESPN.
ESPN reported on June 30 that Pulisic had agreed terms in principle with Milan and was willing to take a significant pay cut to help facilitate a move.
Lyon had also submitted an offer to Chelsea, sources told ESPN, but Pulisic rejected the chance to join the French side, believing it to be the wrong move for his career.
Pulisic becomes the third American to play for Milan after defender Oguchi Onyewu and Sergiño Dest -- who spent last season on loan at the San Siro from Barcelona.
"I'm very happy to be here. I'm excited. I'm excited to start with this historic club," Pulisic told reporters waiting for him at Milan's Malpensa airport Wednesday before undergoing his medical. "It's legendary and I'm really excited to come here and try to win some titles here."
Milan, who are owned by American investment firm RedBird Capital Partners, are seven-time European champions and won the most recent of their 19 Serie A titles in 2022. The Rossoneri lost to city rivals Inter Milan in the Champions League semifinals last season.
The deal brings Pulisic's time in the Premier League to an end. He joined Chelsea in a €64 million deal in 2018 from Borussia Dortmund but was hampered by injuries.
Pulisic made 145 appearances across four seasons for Chelsea, during which he was a part of the club's Champions League-winning side in 2021. He also helped lift the UEFA Super Cup and FIFA Club World Cup later that year.
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During that time, Pulisic shined at international level, twice guiding the USMNT to win the Concacaf Nations League, as well as helping lead the side to the round of 16 at the 2022 World Cup.
His playing time at Chelsea had become increasingly limited as the club signed several attacking players in the past year, including Mykhailo Mudryk, Raheem Sterling and Christopher Nkunku.
Pulisic joins former Chelsea teammate Ruben Loftus-Cheek at Milan and becomes the 14th senior player to leave Stamford Bridge since the end of last season.
With Pulisic's exit, Chelsea have now raised more than £200m ($258.7m) in outgoing transfers this summer.
Information from the Associated Press was used in this report.