Manchester City have signed Colombia forward Marlos Moreno for £4.75m on a five-year deal from Atletico Nacional.
The 19-year-old will go out on loan to Spanish side Deportivo La Coruna for the 2016-17 season.
He becomes Pep Guardiola’s third signing this week, after the arrival of winger Leroy Sane from Schalke and forward Gabriel Jesus from Palmeiras.
Guardiola’s overall spending since replacing Manuel Pellegrini as manager in July now exceeds £100m.
Moreno told the club website: “Pep Guardiola is one of the best managers in the world. I think he likes young players very much and he can improve young players tactically and technically.
“It will be great to work with him and to be part of a great team.”
In addition to strengthening his current squad, former Bayern Munich and Barcelona boss Guardiola has prioritised signing highly rated younger players for the future.
The Spaniard is still aiming to sign a central defender, with Everton’s England international John Stones his top target.