Juventus and Valencia have individually confirmed the transfer of Joao Cancelo to the Italian champions after the Portuguese full back passed a medical on Wednesday.
A Juventus statement confirmed the transfer was just over €40m – as previously rumoured – and Cancelo had signed a five-year contract at the club.
“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 finalised for a consideration of €40.4m 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 five year contract of employment until 30 June 2023.”
In a very short statement, the Spanish club confirmed that Cancelo had completed his transfer, which was agreed on earlier this week, following weeks of negotiation.
“Valencia CF has reached an agreement with Juventus FC for the transfer of defender Joao Cancelo to the Italian club,” read the statement.
“Valencia wants to wish the best of luck to the Portuguese international in this new stage in his career.”
Cancelo impressed last season on loan at Inter and I Nerazzurri had hoped to bring him to the San Siro permanently, but they were unwilling to pay the asking price.