The fee is £50 million plus incentives, Tottenham's second highest ever sale after the 2013 departure of Gareth Bale to Real Madrid.
Tottenham's Kyle Walker
Money is no object to super rich Manchester City, and a player is worth what the selling club deem them to be.
Yet the high fee has Arsenal fans smiling, believing it proves their £52 million club record fee spent on striker Alexandre Lacazette looks like a bargain.
Lacazette scored 37 goals in all competitions for Lyon last season, and Arsenal have high hopes for him.
He even netted on his pre-season debut yesterday, further raising expectations.
Sydney FC vs Arsenal - Pre Season Friendly
Walker is a proven commodity in the Premier League, and Lacazette has it all to prove, but spending £50 million on a full-back is not as exciting as spending big on a potentially prolific striker.
Spending in modern football is out of control, and it will be proved time and time again by clubs this transfer window, with Swansea's demands of £50 million for Gyfli Sigurdsson another example.
Here is a look at how Arsenal fans reacted to the Kyle Walker transfer being conducted by their rivals...
When u see city paying 50 mill for Walker it looks like Arsenal have the deal of the century with Lacazette— northbanklower (@TheMagicHut) July 13, 2017
We miss out on CL, Spurs make it. We end up signing Lacazette, Lemar and Kolasinac whilst they lose Walker. Can't escape that shadow.— Tosi (@afctosi) July 13, 2017
Thats y they cant sign anyone of Note & thats why kyle Walker would entertain moving to City— Lacazette (@RickyJerret23) July 13, 2017
Kyle Walker will cost city practically the same as Lacazette cost arsenal. City are mad!— Cameron Clark (@Camclarky) July 13, 2017
50m for Kyle Walker!! Football is a farce. At least it means Lacazette was an absolute steal! https://t.co/KPdF1KHHy8— Gareth Joachim (@gajoachim) July 13, 2017
£50m for kyle walker just shows Lacazette is a bargain in this market— Sam (@SamOKC94) July 13, 2017
We got lacazette for the same price as walker phahahah— Sands (@lukeeys) July 13, 2017
£50m = Walker— PLUME (@PlumeLuke) July 13, 2017
£52m = Lacazette
What a bargain we got there