Big-spending Paris Saint-Germain has completed the signing of Argentina midfielder Javier Pastore on a five-year deal from Italian club Palermo, shattering PSG's previous French record transfer for striker Nicolas Anelka.

PSG announced the signing on its website Saturday, without giving any financial details, although reports put the transfer at ?42 million ($60 million).

PSG said the 22-year-old Pastore will wear the No. 27 jersey and will be officially presented to the media on Monday afternoon. Pastore and Palermo's president had announced the deal earlier this week.

The previous record transfer involved PSG paying Real Madrid ?33.5 million ($47.6 million) for Anelka in 2000.

PSG has Qatari backing and has already signed three France internationals: striker Kevin Gameiro, winger Jeremy Menez and midfielder Blaise Matuidi - who all made their debuts in Saturday night's home match against Lorient.

Including Pastore's deal, PSG's total outlay this season is around ?82 million ($116.4 million).

Pastore, who was pictured on PSG's website alongside the club's sporting director Leonardo, was paraded before a packed home crowd and got a huge ovation moments before Saturday's match at Parc des Princes.

Prince Sheik Tamim Bin Hamad Al Thani, whose Qatar Sports Investments owns 70 percent of the club, has used his funds to make PSG an attractive destination. Leonardo left his job as Inter Milan coach to oversee PSG's long-term plan for domestic and European success.

PSG has also signed goalkeepers Nicolas Douchez and young Italy international Salvatore Sirigu plus defender Milan Bisevac. Sirigu and Bisevac also started against Lorient.

Pastore scored 11 goals for Palermo in Serie A last season, including a hat trick against Catania.

Before joining Palermo two years ago, Pastore had played for Huracan and Talleres in Argentina. He made two substitute appearances for Argentina during last month's Copa America and has yet to score in 10 international appearances.