WASHINGTON -- Major League Soccer (MLS) team Vancouver Whitecaps confirmed on Wednesday that they have reached an agreement with Bayern Munich that will see homegrown winger Alphonso Davies move to the German giants at the end of the 2018 season.

The move involves a fixed transfer fee and additional compensation that could total more than 22 million US dollars, the most ever received by an MLS club in the league's 23-year history.

Davies, a product of the Whitecaps development system, will turn 18 years old on November 2 and is set to finish the 2018 MLS season with Whitecaps before making the move to the German club.

The Canadian international will be eligible to play for Bayern Munich when the international transfer window reopens in January, 2019 and is signed through 2023, according to the club.

"As a kid, I always dreamed of a moment like this," said Davies in a statement. "Now that the dream has come true, the work continues as always. I have to keep pushing and keep striving, and also keep being me on the field."

Davies joined Vancouver's youth set-up in 2015 at the age of 14 and became a 2018 MLS All-Star within a span of three years. Currently in his third season under head coach Carl Robinson, Davies has recorded seven goals and 11 assists in 35 starts and 68 appearances across all competitions since making his first-team debut in June, 2016.

"Our entire team, from our youth coaches right through to our first-team coaches and support staff, have worked collaboratively for the past few years to nurture Alphonso's exceptional talent," Whitecaps president Bob Lenarduzzi said. "Alphonso is very special to us. We're happy to have him for the rest of this season and excited to see him take on this new challenge next year."