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Barcelona replaces Figo with Overmars and Petit

After lengthy negotiations between Arsenal vice-chairman David Dein and Barcelona's new president Joan Gaspart, it was decided that Arsenal will sell Marc Overmars and Emmanuel Petit to Barcelona for a combined fee in excess of £30m.

News that the speedy Dutch winger Overmars and the French striker Petit are leaving will be a blow to Arsenal supporters, but the club is likely to re-invest some of the cash into new players.

Overmars will not get to team up with compatriots Patrick Kluivert, Frank and Ronald de Boer and Winston Bogarde. "I can't wait to pull on the famous shirt and play my first game," said Overmars.

"Although the fee has nothing to do with me, all the same it is flattering to be the subject of such a high fee, which I believe is the highest in Dutch football history.

Its been a fantastic three years for me at Arsenal; now for the next chapter in my career."

Though Arsenal was desperate to hang on to the two players, the enormity of Barcelona's offer proved too tempting. However, they have already signed on £7m Cameroon midfielder Lauren and French winger Robert Pires at £6m from Marseille to replace the duo.

As for Barcelona, signing Overmars and Petit was one of Gaspart's election promises and proved instrumental in him winning the presidency.

The recent transfer of exciting Dutchman Zenden and then the world record £37.4 million transfer of Luis Figo to arch-rivals Real Madrid left Barcelona with even more money to spend and a pressing need to bolster Catalan morale with high-profile signings.