(CNN) -- Cesc Fabregas is to move from Arsenal to European champions Barcelona, both clubs confirmed Sunday.
The drawn out transfer saga concluded as Fabregas' new club laid claim to yet another honor by holding arch-rivals Real Madrid to a 2-2 draw in the first leg of the Spanish Super Cup.
The Catalan giants confirmed the deal at halftime of the match at the Bernabeu in a short statement.
"Initial agreement between Arsenal and FC Barcelona for the transfer of Cesc with the signing of contracts and medical to take place on Monday," it read.
Arsenal, who had been reluctant to let their captain go, conceded defeat.
"Arsenal announces today that they have reached an agreement in principle with Barcelona for Cesc Fabregas to move to Spain," said a statement on their club website.
Manager Arsene Wenger, whose team drew 0-0 in their English Premier League opener at Newcastle, also gave his reaction.
"We have been clear that we didn't want Cesc to leave and that remains the case," he said.
"However, we understand Cesc's desire to move to his home town club and have now accepted an offer from Barcelona. We thank Cesc for his contribution at Arsenal and wish him future success."
Fabregas, who played in Spain's World Cup winning team in South Africa, left Barcelona as a 16-year-old in 2003 to play for Arsenal where he made 303 appearances, scoring 57 goals.
He has played 58 times for his country.
Neither club disclosed the transfer fee, with reports suggesting in the region of €40 million ($57m).
In the absence of any last-minute hitch, Fabregas will be eligible to play in the second leg of the Super Cup final at Barcelona's Camp Nou Wednesday.
Mesut Ozil put Jose Mourinho's Real ahead in the first half, but before the break goals from David Villa and Lionel Messi had left the Spanish champions in charge.
Xabi Alonso's 54th minute equalizer salvaged a 2-2 draw for the home side.