English football giants Manchester United finally confirmed that they had signed France's 23-year-old midfielder Paul Pogba for a world record £89 million (€105 million) from Italian club giants, Juventus, making it the most expensive transfer deal in the world.

Both Manchester United and Juventus confirmed the deal in separate statements on their website.

"Paul is one of the best players in the world and will be a key part of the United team I want to build here for the future," said United manager Jose Mourinho, in the statement from United. Pogba has been signed on a five-year contract as of now with an option to extend for a further year.

Spanish giants Real Madrid were also interested in the 23-year-old but balked at the humongous fee, which beat the previous record set by Wales' Gareth Bale, who went to Real Madrid in 2013 from Tottenham Hotspur for a fee of £85 million (€100.8 million).

Pogba has been under the radar of several clubs. Current Manchester United manager Jose Mourinho tried to sign the player when he was in charge at Chelsea last summer. There were rumours of French giants Paris Saint Germain and Real's arch-rivals Barcelona also expressing interest in signing up Pogba.

The French player had left United for Juventus on a free transfer under acrimonious circumstances in 2012. Despite competing for places in a star-studded midfield in Turin, which included Arturo Vidal, Andrea Pirlo, and Claudio Marchisio, Pogba cemented his place in the starting eleven and won four Serie A titles, two Coppa Italia titles and finished as the runners-up in the Champions League in 2015 with Juventus.

"Everyone associated with Juventus Football Club would like to thank Paul for his unforgettable four years of service and wish him the very best upon his return to England with Manchester United," said the statement on the Juventus official website.