Crystal Palace have completed the signing of Yohan Cabaye from Paris St-Germain (PSG) on a three-year deal.
The agreement with the Ligue 1 side for the French midfielder is believed to have had the Eagles break the bank in a deal reportedly worth £10million — rising as high as £12.8m with add-ons.
Palace’s previous record signing was James McArthur following his £7m move from Wigan.
Cabaye had struggled to nail down a starting role in Paris and has quickly embraced the opportunity to reunite with his former boss at Newcastle, Alan Pardew, who guided Palace to a comfortable finish in the English Premier League last season.
Cabaye said: “I’m happy to be here. I can’t wait to focus on my new team, a new season and my new life.
“I wanted to come and play for Palace because there are some really strong players here.
“They finished very well last season and I think they can compete to get into the top eight.”
He added: “I also know the gaffer and have worked with him before and I’m confident with him.
“I want to do my best for him because he’s made a big effort to get me to come here, as well as the chairman, so I have to say a big thank you to both of them.”
The 29-year-old left Newcastle for PSG 18 months ago. Pardew signed Cabaye from LOSC Lille in 2011. He went on to score 18 goals in 93 appearances for the Magpies.