The Turkish giants released a statement on the stock exchange confirming the transfer.
The statement read: “Galatasaray have reached an agreement with Jason Gregory Denayer and Manchester City Football Club Limited over the loan transfer. Manchester City will receive a £100,000 sign on fee. The transfer will cost a total of £596,000 and the player will also receive a £11,000 per-match bonus.”
The 20-year-old arrived in Istanbul yesterday and has now put pen-to-paper on a season long loan with the Turkish giants.
Denayer spent last season on loan at Celtic where he scored six goals and setup two assists in 44 appearances for the Scottish champions in all competitions last season.
The 20-year-old who was voted Scotland’s Young Player of the Year last season, turned down ‘a number of offers’ in favour of Galatasaray according to SkySports.
Galatasaray won the league title for a record 20th time last season and booked a place in the Champions League group stages for the fourth consecutive season.
The Lions will face Portuguese giants Benfica, La Liga outfit Atletico Madrid and Kazakhstan side Astana in the group stages this season.