Manchester United announced on Tuesday it has signed Argentina winger Angel di Maria from Real Madrid for a British-record transfer fee of 59.7 million pounds ($98 million).

The 26-year-old's move, on a five-year contract, shatters the previous British-record fee of 50 million pounds paid by Chelsea to sign Spain striker Fernando Torres from Liverpool in 2011.

"Manchester United is delighted to announce that Angel di Maria has completed his transfer for a British-record fee of 59.7 million (pounds). Angel joins on a five-year contract," said a club statement.