City switch doubles Walker's wages
England full-back Kyle Walker has completed his move to Manchester City from Tottenham in a deal worth an initial £45m (€51m), which could rise to more than £50m (€57m) if the add-on clauses are met.
Walker (right) has signed a five-year deal worth £130,000-a-week - double what he was on at Spurs.
However, he insisted it was the chance to work under Guardiola, and not the money, that influenced his decision.
"Pep Guardiola is one of the most respected managers in the world and I feel he can help me take my game to a new level," said Walker.
The fee could make Walker the most expensive defender of all time.
Paris St-Germain broke the world record for a defender when they signed David Luiz for £50m in 2014, while City made £47.5m John Stones the most expensive Englishman of all time in that position two years later.
Walker's arrival takes their summer spending well beyond the £100m (€114m) mark after the captures of playmaker Bernardo Silva and goalkeeper Ederson.
Meanwhile, Nemanja Matic will join Diego Costa in sitting out Chelsea's pre-season tour to China and Singapore next week as the pair attempt to seal their exits from Stamford Bridge.
While Costa remains in Brazil after being excused from returning for pre-season training, Matic reported for duty but has largely trained alone and left Chelsea's Cobham base early on Wednesday afternoon.
Matic would like to join Manchester United, who remain in the market for a midfielder of his type, but Chelsea are reluctant to sell him to a Premier League rival and Juventus is a more likely destination.
Chelsea are already in negotiations with Juve about signing left-back Alex Sandro and Matic seems likely to become part of that deal.
French midfielder Tiemoue Bakayoko is expected to complete his £40m (€47m) move from Monaco to Stamford Bridge over the weekend after undergoing the final part of his medical yesterday.
Juventus defender Leonardo Bonucci, who was another Chelsea target, appears poised to complete a shock switch to AC Milan.
Lucas Leiva is set for a £5m (€5.7m) move from Liverpool to Lazio. The 30-year-old Brazilian is the club's longest-serving current player, having just marked a decade on Merseyside.
Elsewhere, the English FA has announced that 32 grassroots leagues will trial a rugby-style 'sin bins' for dissent next season.
Players from the selected leagues who complain to officials can expect to spend 10 minutes off the pitch.
Meanwhile, former Sutton United goalkeeper Wayne Shaw has been charged in relation to breaching two English Football Association rules.
The 45-year-old is alleged to have intentionally influenced a betting market after he ate a pie on the sidelines during Sutton's 2-0 FA Cup defeat to Arsenal in February, the FA has announced.
A bookmaker had offered odds of 8/1 that Shaw would eat a pie on camera. He has also been charged with improper conduct.