AS Monaco have completed the double signing of João Moutinho and James Rodríguez from FC Porto for €70 million (£60m) combined.
The duo have signed five-year contracts with the resurgent Rouges et Blancs, who were recently promoted to Ligue 1.
Rodríguez cost €45m while midfielder Moutinho made up €25m of the fee, Porto confirmed in a statement.
Russian billionaire Dmitry Rybolovlev bought Monaco in December 2011 and the signings of Moutinho and Rodríguez signal an emphatic statement of intent.
The club pose a fresh challenge to fellow moneybags Paris St Germain's bid for Ligue 1 dominance, less than a fortnight after the Parisiens' first domestic title in 19 years.
Tottenham bid for Portugal international Moutinho last year but failed despite frantic transfer deadline day efforts to bring the 26-year-old to White Hart Lane.
Manchester United also made an enquiry about Moutinho last year while Everton were interested in the energetic midfielder as far back as 2008.
Colombian winger Rodríguez, 21, was also linked with United.