“As of midnight, Pastore's sale to Paris Saint-Germain is practically official for €43m,” announced Palermo President Maurizio Zamparini.
It was well known that the clubs were in advanced negotiations, although Chelsea were still in the frame up until last night.
“As of Friday evening, at around midnight, we concluded the negotiation process,” Zamparini told Radio Radio.
“Pastore's sale to PSG is practically official for €43m.
"I believe that, along with Sergio Aguero, Pastore is the king of this transfer market session."
This ends one of the biggest transfer sagas of the summer, as the Argentine talent had been linked with Barcelona, Real Madrid, Manchester City, Juventus, Inter, Milan, Roma and Napoli.
Ultimately it was Leonardo's French side who came out on top, just short of the original €50m asking price for El Flaco.
Paris Saint-Germain also signed goalkeeper Salvatore Sirigu from Palermo this week as well as Roma striker Jeremy Menez.