"Alan Velasco is an incredibly special talent," FC Dallas President Dan Hunt said in a statement. "You don't often get a chance to bring a young player that's at the top of the league. He's incredibly dynamic, he beats people off the dribble. He's a great passer and the creative way he approaches the game is special and unique."
Velasco, 19, debuted for Independiente at 16 years old and has scored 10 goals with 10 assists over 71 appearances since 2019. He has also been a fixture among Argentina's youth national teams.
The signing represents a major investment by the MLS club -- various reports have indicated the transfer fee was in the neighborhood of $7 million.
The Texas side recently transferred United States striker Ricardo Pepi to FC Augsburg in the German Bundesliga for roughly $20 million. Dallas also recently transferred Homegrowns Tanner Tessmann and Bryan Reynolds to Serie A in Italy, while three other products of the FC Dallas academy -- Justin Che (Hoffenheim), Dante Sealy (PSV) and Thomas Roberts (Klagenfurt) -- are on loan in Europe.
Velasco will occupy a Young Designated Player slot, and is expected to play opposite USMNT international Paul Arriola, who was acquired last week from D.C. United for $2 million in general allocation money, which was a league record sum. Jesus Ferreira, who started for the United States at striker in their World Cup qualifier against El Salvador last week, was made a Designated Player after signing a new contract last month. Along with Arriola and Ferreira, Franco Jara is the other senior DP on Dallas' side.