Al Hilal completed the signing of Brazil winger Gabriel Martinelli from Arsenal on Thursday.
The Saudi Pro League club will pay a fixed fee of £60 million ($81m), while Arsenal will also get a percentage of any future transfer, sources told ESPN's James Olley.
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The fee represents a record outgoing transfer for Arsenal, eclipsing the Alex Oxlade Chamberlain's £35m exit to Liverpool in 2017.
Martinelli has signed a four-year contract with Al Hilal, who top the Saudi Pro League with a 100% record after four games of this season.
Gabriel Martinelli has left Arsenal to join Al Hilal after seven years with the Gunners. Catherine Ivill - AMA/Getty Images Martinelli leaves the Emirates after seven years in north London, having scored 62 goals in 278 appearances for the Gunners. He joined the Gunners from Brazilian side Ituano when he was 18-years-old.
The 25-year-old made 53 appearances for Arsenal last season as the club won its first Premier League title in 22 years and reached the Champions League final.
However, he was not included in the matchday squad for Arsenal's opening Premier League matches against Coventry City and Aston Villa.
Arsenal signed left-winger Christos Tzolis earlier this summer, with the Greece international starting the club's opening Premier League games.
Martinelli was a part of Brazil's squad at the World Cup and scored in their round of 32 win over Japan, before they were knocked out of the tournament by Norway.
He will immediately begin training with his new teammates on Thursday, Al Hilal said, and could be in line to make his debut against Al Shabab on Friday.