The striker exchange between Toronto FC and Barclays Premier League club Sunderland is complete.

Both sides of the deal have formally announced acquisitions: TFC introduced Jozy Altidore as a designated player on Friday, while their counterparts announced a three-and-a-half-year deal with Jermain Defoe.

Sunderland Sporting Director Lee Congerton confirmed no money was involved in a transfer fee and it was a straight transaction.

ESPN's Marc Stein reported Friday morning that Altidore's deal is believed to be in the $30 million range over a five-year term, making him one of the highest-paid American-born players in MLS.

The team officially introduced Altidore at a Friday media conference, with the striker saying little beyond expressing his happiness over the move.

"I look forward to this challenge," he said. "I’m committed long-term to making this franchise something special."

Altidore - who scored just twice in 40 BPL games with Sunderland - said he looks forward to a chance to turn things around with his new club.

"You're going to go through times when everything's not so great. I think in those times, how you react to those moments will define you. For me, obviously, it was very difficult for a lot of reasons on and off the field [during] my time in England," he explained. "Now, I was faced with the opportunity of joining a franchise where I would have the opportunity to keep growing as a player and, obviously, to get better. That was the most important thing for me. Toronto gave me the opportunity and I took it with both hands."

Despite his struggles in England, Altidore did score 12 goals in 24 international appearances with the U.S. team over the last two years.

Toronto FC spoke glowingly of its 25-year-old addition.

"Jozy is a special player, and checks off all of the boxes that we look for in a player. We are excited to finalize this deal and bring him to Toronto FC,” said Toronto FC General Manager Tim Bezbatchenko. “It became clear that a return for Jermain to the English Premier League was going to be in the best interests of both sides. We’d like to thank Jermain for his contributions to Toronto FC and wish him well.”

TFC head coach Greg Vanney pointed out that Altidore's age and desire to be part of the club were key factors in the transaction.

“We got another DP who is in the prime of his career,” Vanney said, adding that Altidore has “a lot to prove, a lot to be a part of.”

“He wants to be here for the long haul.”

Bezbatchenko went out of his way Friday to thank TFC midfielder Michael Bradley - a teammate of Altidore’s on the U.S. national team – for playing a part in the move.

“He played an important role in [this] acquisition,” Bezbatchenko said.

Altidore began his MLS career after selection in the 2006 MLS SuperDraft by the New York MetroStars (now New York Red Bulls). He scored 16 goals over two seasons, before the club transferred him Villarreal. 

He came to Sunderland in the summer of 2013 following stints with Spain's Xerex CD, English side Hull City, Turkish club Buraspor, the Eredivise's AZ Alkmaar.

Altidore has earned 76 caps with the U.S. national team, scoring 25 goals and representing the Americans at both the 2010 and 2014 FIFA World Cups. 

Sunderland, meanwhile, is pleased to be welcoming the 32-year-old Defoe back to Britain's top flight.

“I am thrilled that Jermain is a Sunderland player," said Black Cats head coach Gus Poyet.

"I know all about his attributes and his qualities first-hand and his exceptional goal-scoring record speaks for itself. He has something different, something special."

Defoe, himself, expressed joy at returning home and getting another chance in the BPL.

“It is a great club and I’ve always enjoyed coming up here and playing against Sunderland because of the stadium and the supporters," he said Friday. "It is a great place to play and I’m really looking forward to it.”

Defoe scored 11 goals in 16 MLS games with TFC last season and makes his return to the Barclays Premiership where he has scored 123 league goals over 14 seasons with West Ham United, Portsmouth and two stints with Tottenham.

He has also earned 55 caps for England, scoring 19 goals. He made an appearance for his nation at the 2010 FIFA World Cup in South Africa.