(CNN) -- Manchester City have confirmed the signing of Brazilian striker Jo from CSKA Moscow for a club record undisclosed fee -- believed to be in the region of $37 million.
City manager Mark Hughes welcomes Jo to the club after breaking the club's transfer record to sign the striker.
The 21-year-old forward, who has been capped once by Brazil, has signed a four-year contract.
Jo had been on the verge of moving to the Premier League club for a number of weeks and becomes Mark Hughes' first signing since replacing Sven-Goran Eriksson.
Jo, full name Joao Alves de Assis Silva, is a skilful left-footed striker who joined several compatriots at CSKA in 2005 when he moved from Corinthians.
He scored 44 goals in 77 games for CSKA, helping them to two Russian Super Cups, the Russian Premier League title in 2006 along with the Russian Cup in the same season.
"I decided to come to Manchester City because it is one of the clubs who showed more interest in me, although I had other offers as well," Jo said at a press conference announcing his signing.
"After I spoke to the manager, I was very pleased. I was told Manchester City is a club going forward at the moment. We can go places, that is our objective. We thought about it and I decided to come to Manchester City for that reason."
Jo added Valencia were City's main rivals for his signature. "The club who showed interest officially was Valencia," he said. "I know from the press there were other clubs who showed an interest."
Hughes said: "He is a big talent and a young man with a big future. A lot has been said about him and there was a big expectation on him coming out of Brazil.
"So with the success he's had I think it's a real coup that we've been able to bring him to the club. "He is a big guy, in stature and in ability, so I think everybody will enjoy watching him play."
Hughes also spoke of the possibility of Jo's compatriot Ronaldinho moving to the club as well. The forward has been told he can leave Barcelona but has yet to actually leave the Nou Camp, with AC Milan, Chelsea and City being linked with a move. "Basically that's a process that is ongoing," Hughes said. "I don't think the process has slowed or accelerated."
Hughes admitted the media speculation has been somewhat unhelpful but revealed one-to-one talks have been positive. "He's a huge world star and these things, if they are going to happen, are likely to take a bit of time," he added.
"In the discussions he's had with the club I think he's been very positive about the idea of coming here."
As one player moves to Eastlands, another departs, after City's Swedish international goalkeeper Andreas Isaksson completed his move to PSV Eindhoven.
Isaksson found first-team opportunities limited last season as young Englishman Joe Hart established himself under Eriksson.
The 26-year-old has sined a four-year contract for an undisclosed fee and will replace Brazilian Heurelho Gomes, who is poised to join Tottenham.