Lyon have announced that goalkeeper Gregory Coupet has joined Atletico Madrid.
The 35-year-old France international has been on the verge of a switch to Madrid for some time.
He looked set to sign last week following talks but the two clubs could not agree on a fee.
Coupet had a clause in his Lyon contract running to 2010 allowing him to leave Lyon for 3million euros (£2.4million).
Atletico have finally landed their man for just 1.5million euros, although they will pay an extra 500,000 euros if Coupet helps them qualify for the Champions League in the next two seasons.
They will participate in the final qualifying round of the competition this year after finishing fourth in the Primera Liga last season.