Paul Pogba has signed a two-year contract with French side Monaco, marking his return to top-flight football after serving an 18-month doping ban.
Olympique Lyonnais have been relegated to Ligue 2 after failing to meet financial requirements set by France's football watchdog, the Direction Nationale du Controle de Gestion (DNCG).
Diego Simeone, Atletico Madrid's head coach, was left to rue a 4-0 demolition by Paris Saint-Germain in their FIFA Club World Cup clash at the Rose Bowl.
Manchester City have completed the signing of French international Rayan Cherki from Lyon on a five-year contract, the Premier League champions confirmed on Tuesday.
Paris Saint-Germain goalkeeper Gianluigi Donnarumma faces an uncertain future as contract renewal talks have stalled, with just one year remaining on his current deal.
In a Champions League season brimming with rising stars, it was Paris Saint-Germain's Desire Doue who took top honors, edging out Barcelona sensation Lamine Yamal to be named UEFA's Young Player of the Season.