Manchester City have signed Benfica defender Ruben Dias for £65m, with Nicolas Otamendi moving in the opposite direction.
The deal for Dias is worth an initial £62m, with a further £3m subject to add-ons, and was confirmed in a statement from Benfica on Sunday night following City’s 5-2 defeat at home to Leicester.
In the statement, the Portuguese club said they had agreed a separate fee of 15m euros (£13.6m) to sign Otamendi.
Dias, who becomes City’s third signing of the summer following the arrivals of Nathan Ake and Ferran Torres, has signed a six-year deal at the Etihad, where he will wear the No 3 shirt.
“To have the opportunity to join a club like Manchester City is a fantastic opportunity for me and one I couldn’t turn down,” Dias told the club’s website.
“Their success speaks for itself. They have been the dominant team in England over the last few years, playing an attacking brand of football which I feel suits my own game.