Memphis Depay has finalized his transfer from Barcelona to Atletico Madrid.

The international player from the Netherlands, who was permitted to train with Atletico on Thursday, has agreed to a two-and-a-half-year contract at the Civitas Metropolitano.

A player whose contract was set to expire in July will now receive an upfront payment from Atletico of €3 million, with the possibility of an increase to €4 million.

Prior to the 2021–22 season, Depay moved to Barcelona on a free transfer from Lyon. He reunited with former Oranje player Ronald Koeman at the club, although Koeman was fired by the Blaugrana at the end of October 2021.

Xavi was hired a week later and never appeared to have quite the same trust in Depay.

His first 11 LaLiga appearances were all as a starter, but after Xavi's appointment only nine of his next 17 top-flight outings came from the start.

Depay was hampered by the January 2022 arrivals of Ferran Torres, Pierre-Emerick Aubameyang and Adama Traore.

🇳🇱 Memphis is a new Red & White player! 🔴⚪🖊 The Dutch international has signed with our club for the remainder of the season and 2 more campaigns.➡

👋 #WelcomeMemphis! pic.twitter.com/CbK3ko1n5x— Atlético de Madrid (@atletienglish) January 20, 2023

The addition of Raphinha in the preseason increased competition for positions even though the latter two have since left.

Depay has only played twice in LaLiga this year and hasn't played since September.

However, Depay is a crucial signing for Atletico.

Joao Felix went on loan to Chelsea, and Matheus Cunha signed a temporary contract with Wolves that, according to reports, has already met the requirements to become a permanent one.

Despite winning neither of their past two games, Atletico are fourth in LaLiga, ahead of Villarreal and Real Betis on goal difference.

Depay could make his debut when Atletico host Real Valladolid on Saturday.