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

A source close to United told Reuters on Thursdaythat 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, according to Reuters.