Australia winger Digby Ioane has signed a two-year deal to play for Stade Francais from next season.
Ioane, almost certain to be in the Wallabies line-up against the Lions this summer, will leave Queensland for Paris with a year of his Reds contract still to run.
And the Reds admit the bumper financial package being offered Ioane meant they could not stand in his way.
"Digby has been given an opportunity in France to secure the financial future for himself and his family," Queensland Rugby chief Jim Carmichael said.
"This was an extremely difficult decision for Digby to make but as the provider for his family, we completely understand his position to pursue a deal overseas."
Ioane played 63 times for the Reds after returning to the province from the Western Force in 2008 and was part of the side the won the 2011 Super Rugby title.
Stade Francais said Ioane will join the Top 14 club on October 21 at the latest, which rules him out of Australia's end of season tour of Europe.
The New Zealand-born 27-year-old has scored 11 tries in 34 Tests since his debut against Wales in Brisbane in 2007.