And Neymar could be presented at PSG's Ligue 1 opener at home to Amiens on Saturday.
"It is with huge joy and pride that we welcome Neymar to Paris Saint-Germain", said PSG president Nasser Al-Khelaifi.
Their rejection of the deal stems from their belief that PSG would not have the means to fund this transfer and still fall in line with Financial Fair Play Regulations.
League officials confirmed that they received the payment Thursday for the player's release clause.
On top of those future earnings and significant bonuses, a source added that Neymar and his father will also profit from a number of club owners Oryx Qatar Sports Investments' other commercial ventures in Paris and outside of the footballing world. His winning mentality, strength of character and sense of leadership have made him into a great player.
'Paris Saint-Germain's ambition attracted me to the club, along with the passion and the energy this brings.
"Today, with the arrival of Neymar Jr, I am convinced that we will get closer, with the faithful and fervent support of our fans, the realisation of our greatest dreams".
At first the Spanish league attempted to reject the bid on grounds that it violated Financial Fear Play rules (a unusual notion considering Financial Fair Play penalties are only assessed retroactively, after accounting periods pass, and isn't even policed by La Liga), but now they're begrudgingly accepting their fate.
The Catalan club will transfer to the UEFA detailed information about this operation, that the governing body of European football "defined disciplinary measures that may follow in this case".
Neymar joins PSG following four seasons at Barcelona during which time he scored 105 goals and provided 80 assists for the Catalans.