Monaco have announced that they have sealed a deal to sig Porto's midfield duo of James Rodriguez and Joao Moutinho for a combines fee of £60m.
The French club sealed their return to the top flight just a matter of weeks ago and have now made a major statement of intent by signing two of Europe's most wanted players.
Monaco revealed on their official website that both players have signed five year contracts and will shortly be introduced to the media before joining the club in time for pre-season training.
There had been interest from several clubs in both players, with Moutinho close to joining Tottenham Hotspur on deadline day last summer as Andre Villas-Boas attempted to persuade the midfielder to join him at White Hart Lane.
Tottenham failed to complete deal last summer but there was still believed to be interest after the club narrowly missed out on a place in next season's Champions League.
Chelsea had also shown their interest in the 26 year old but he will now make the move to France where he will be joined by teammate Rodriguez who had been mentioned as a possible target for Manchester United.
The Colombian winger scored 10 league goals as he helped Porto win the league title for the third consecutive season. His superb form had seen him mentioned as a possible replacement for Manchester United winger Nani who has been linked with a summer exit.
While both Tottenham and Manchester United would have hoped the lure of playing in the Premier League would have appealed to the duo, it seems the project being built at Monaco was simply too good to refuse.
The French side were bought last season by Russian oligarch Dmitry Rybolovlev and instantly secured promotion back to Ligue 1 with former Chelsea manager Cludio Ranieri at the helm.
They are hoping to compete with the likes of Paris Saint-Germain and Marseille for the title next season as they look to once again establish themselves as a major force in French football.
Moutinho and Rodriguez may not be the only major arrivals at the club this summer as it has been widely reported that the club are confident of sealing a deal for Atletico Madrid's in-demand striker Radamel Falcao.
The Colombian may well cost in excess of £40m which would see Monaco's summer spending touch the £100m mark on just three players.