Milan have officially confirmed the loan signing of Spanish winger Gerard Deulofeu from Everton.

Rossoneri CEO Adriano Galliani confirmed last night that a final offer had been submitted, with the formula of a loan with option to buy.

It’s thought the proposed deal was a €0.5m loan with an option to buy set at €18m for the summer.

Milan have officially confirmed the loan signing of Spanish winger Gerard Deulofeu from Everton.

Rossoneri CEO Adriano Galliani confirmed last night that a final offer had been submitted, with the formula of a loan with option to buy.

It’s thought the proposed deal was a €0.5m loan with an option to buy set at €18m for the summer.

However, it appears that the Diavolo will not have an option to buy, as the club announced on its Twitter page that a "dry loan" has been agreed until the end of the season.

In addition, Sky reports that the fee is higher than previously thought, at between €650,000 and €700,000, and that there is no option to buy.

Initially the English side had wanted an obligation to buy, but Milan couldn't commit to that due to their impending takeover.

However, it now appears that they may have accepted a straight loan deal, potentially due to Barcelona's competing buyback clause.

Update: Despite Milan announcing the transfer, reports in the UK state that Everton are denying a done deal.

Bygaby

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