Brazil striker Robinho has signed for Chinese Super League club Guangzhou Evergrande on a six-month deal after failing to agree terms to stay with Santos.
Santos said they could not match offers made for the 31-year-old striker, especially from clubs in other countries.
The forward -- who will wear the No. 60 shirt -- signed for Guangzhou on a free transfer on Thursday after his Santos loan expired on Tuesday, and will link up with Brazil's 2002 World Cup-winning coach Luiz Felipe Scolari.
Robinho returned to Brazilian football last year on a loan from AC Milan, and has agreed to terminate his Rossoneri contract with 12 months remaining on it.
The forward had said of his failed agreement with Santos: "Unfortunately it won't be possible to renew the contract, but Santos will always remain in my heart."
"I want to thank club directors for trying hard to make it possible for me to stay so everybody could be happy.
"I'm upset because this is like my family, but life goes on. Santos will remain big and I will try to be happy doing what I like the most, which is playing football."
Brazilian media initially reported that Robinho had reached a deal to join big-spending Guangzhou for €12 million per year.
Santos president Modesto Roma Jr. said Robinho "will continue his career with another club and we wish success to our eternal idol."
He has played three different stints with Santos, scoring 111 goals in 253 matches, as well as in Spain for Real Madrid and in England for Manchester City.
He also played for Brazil in the 2006 and 2010 World Cups and this month's Copa America tournament, where Brazil were eliminated by Paraguay in the quarterfinals.
The move comes after Guangzhou announced that another Brazilian midfielder, Paulinho, was leaving Tottenham to sign for €14m.
Since being purchased by the Chinese real-estate group Evergrande in 2010, the club has gone on a massive spending spree to build a championship-calibre team.
They have had a trio of World Cup-winning coaches, with ex-Italy captain Fabio Cannavaro and former Italy coach Marcello Lippi preceding Scolari, as well as high-priced players like Argentine Dario Conca and Brazil international Ricardo Goulart, who signed this year for a Chinese record €15m.
In 2013, Guangzhou became the first Chinese team to win the Asian Champions League.