Barcelona have confirmed that Paris Saint-Germain have met Neymar's €222 million release clause.
The club released a statement on their official website:
"On Thursday afternoon Neymar Jr's legal representatives visited in person the Club's offices and made the payment of 222 million euros in the player's name with regards to the unilateral termination of the contract that united both parties.
"As such, the Club will pass on to UEFA the details of the above operation so that they can determine the disciplinary responsibilities that may arise from this case."
Later that afternoon, PSG announced the Brazilian would be joining the French club on a five-year deal.
The announcement came after La Liga had previously rejected PSG's initial attempt to pay the clause. Aleks Klosok of CNN London (via James Masters of CNN) passed along a statement from the league:
"We can confirm that the lawyers of the player (Neymar) have come to La Liga to deposit the clause and that it has been rejected. It is all the information we will give so far."
La Liga's rejection of the bid was on the basis of concerns regarding financial fair play.
Indeed, as Barcelona hinted at in their statement, the transfer has attracted a great deal of attention in terms of PSG's ability to complete the deal and comply with UEFA's financial fair play rules.
The deal is set to shatter the current transfer record:
Les Parisiens will also pay him £515,000 per week after tax, according to Sky Sports' Bryan Swanson.
With the Brazilian's deal likely to be completed shortly following the activation of his buyout clause, the Catalan giants now face the prospect of replacing him.
Football journalist Rafael Hernandez believes Neymar's departure is best for the club because of the off-field distractions he brings:
Nevertheless, after the forward contributed 185 goals and assists in 186 appearances at Barcelona, it will be a real detriment to the quality of their forward line.
Barca will need to use the money from his transfer to do their best to bring in a player who can have a similar impact at the club.