Portugal international Joao Cancelo is officially a Juventus player after the completion of a €40.4m transfer from Valencia.
The statement from Juventus confirms payment will be spread out over three years.
“Juventus Football Club S.p.A. announces that the agreement with Valencia Club de Futbol SAD for the definitive acquisition of the registration rights of the player João Pedro Cavaco Cancelo has been finalized for a consideration of € 40.4 million payable in three financial years.
“This acquisition will generate economic and financial effects starting from 2018/2019 sportive season.
“Juventus and the player have signed a 5-year contract of employment until 30 June 2023.”
The full-back had his medical this morning at the J-Medical centre in Turin and put pen to paper on the five-year contract.
“Valencia CF have signed an agreement with Juventus FC for the transfer of full-back Joao Cancelo to the Italian club,” read a statement from the Spanish side.
“VCF wish the Portugal international the best for this new step in his career.”
It is a return to Serie A, as Cancelo spent the 2017-18 season on loan at Inter, but the club did not take up its €40m option to buy.
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