Barcelona has signed 22-year-old Chilean striker Alexis Sanchez to a five-year deal after reaching an agreement with Italian club Udinese to buy him for $37 million. Performance clauses could push the amount Udinese receives above $50 million.

Sanchez will be the first Chilean to play for Barca. He was the 2011 Serie A Player of the Year, scoring 12 goals in 31 games. He had been linked to Barca for months, saying he wanted "Barcelona or nothing."

"He is a very young player, can play in three attacking positions, has a lot of intensity in defense, very vertical, unbalancing, and from what I've been told he's a very good guy," Barca coach Pep Guardiola.