Chelsea have signed Argentine winger Alejandro Garnacho from Manchester United on a seven-year contract, the Premier League club said on Saturday

A source close to United told Reuters on Thursday that United had agreed a deal worth 40 million pounds ($54 million) with the Club World Cup champions.

The 21-year-old Garnacho's sale value is the fourth largest for a United player after Cristiano Ronaldo, Romelu Lukaku and Angel di Maria.

"It's an incredible moment for my family and I to join this great club. I can't wait to get started," Garnacho said in a statement.

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