New York City FC acquired Steven Mendoza on loan from Brazilian club Corinthians on Friday, hours after trading midfielder Andrew Jacobson to the Vancouver Whitecaps for targeted allocation money.
Mendoza, 23, spent last season on loan in the Indian Super League, where he won the Golden Boot and helped Chennaiyin FC to the league title.
NYCFC has an option to buy Mendoza on a permanent basis at the end of the season.
Already at the maximum of three designated players -- Andrea Pirlo, Frank Lampard and David Villa -- NYCFC will put the allocation money acquired in the Jacobson deal toward Mendoza's contract.
The Colombian said he was eager to play for NYCFC coach Patrick Vieira.
"Everyone kept telling me that it's a team that is forming and coming together really well." Mendoza told NYCFC's website. "Patrick Vieira is someone who wants to win. I've talked with the Head Coach and I am very excited by the confidence he has in me."
"I'm a fast player. I like to get involved in a lot of plays and help the team from a wide position. People will always see the maximum from me. This is a very exciting move and I can't wait to play for the first time. "
Jacobson, 30, started 33 games for NYCFC in the club's first season in MLS. The California native said he wanted to move closer to his family.
"I want to sincerely thank New York City FC for helping me make a move to be closer to my family," he said in a statement. "I also want to thank the New York City fans for making this past year such a memorable one. Playing for an expansion franchise in New York City was an amazing experience."
Jacobson began his MLS career with D.C. United, then spent a year with Philadelphia before playing the next four seasons at FC Dallas.
He has goals and nine assists in 174 MLS appearances.
"Andrew is a quality midfielder with valuable MLS experience," Whitecaps coach Carl Robinson said. "He's shown in the past that he can step into a new situation and be relied on to contribute. Andrew will also be an important asset in the locker room, as he will help guide our young midfielders."