Manchester City have completed the signing of goalkeeper Gianluigi Donnarumma from Paris Saint-Germain.
The Italy international has moved to the Etihad Stadium in a deal worth €30 million ($40.2m). He's signed a five-year contract to replace Ederson in Pep Guardiola's squad.
Ederson's eight-year stay at City is at an end after the Brazilian joined Fenerbahce for €14m.
"To have signed for Manchester City is such a special and proud moment for me," said Donnarumma.
"I am joining a squad packed with world-class talent and a team led by the one of the greatest managers in the history of football in Pep Guardiola.
"This is a club every player in world football would love to join.
"I have admired watching Manchester City for many years so to now be able to play for the club is a huge honour and a privilege."
Donnarumma, a Champions League winner with PSG last season, will fight it out with James Trafford to be Guardiola's No.1.
Trafford, who rejoined the club from Burnley in a £27m deal earlier in the summer, has started City's first three Premier League games of the season.
Ederson left the Etihad on Tuesday after a glittering stint in Manchester during which he won 15 major trophies including six Premier League titles.
He was also named in the PFA Premier League team of the year twice and won the Premier League golden glove award three times in a row between 2020 and 2022.
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"I leave Manchester City incredibly proud of what we have achieved together, and I am honoured to have worn the shirt so many times," said Ederson.
"Under Pep, we have won and dominated the Premier League and conquered Europe. It has been amazing.
"I arrived in Manchester eight years ago full of hope, but I could not have predicted such a beautiful time together.
"Playing for City has been the most special time of my life and I will always be a fan of this special club."
Ederson wasn't the only exit from the Etihad Stadium on Tuesday. Defender Manuel Akanji completed his move to Inter Milan.
"I cannot wait to meet the Inter fans at San Siro, in the first home game that we'll have: I am waiting for that moment," Akanji told Inter's website.