Paqueta has become David Moyes’ eighth signing of a busy summer in a deal worth an initial €43million. That could rise to €60m with add-ons, which would take the deal past the £45m the club paid to sign striker Sebastian Haller from Eintracht Frankfurt in 2019.
The Brazilian international, who underwent a medical on Sunday while his new team-mates were picking up a vital first three points of the season at Aston Villa, has signed a five-year contract. He will wear the no.11 shirt.
The former AC Milan man joined Lyon two summers ago and has scored 21 goals and laid on 14 assists in 80 appearances across all competitions since. He was voted as the best foreign player in Ligue 1 for the 2021-22 campaign and is expected to be part of the Brazil side that will start this winter’s World Cup in Qatar as favourites.
Paqueta’s arrival could eventually see the Hammers’ summer spending rise beyond £170m, with Moyes having received major backing to rebuild the side that reached the semi-finals of the Europa League last term.