MADRID, Aug. 28 (Xinhua) -- Spanish Liga Santander club, Valencia have confirmed the signing of Portuguese international winger Goncalo Guedes from Paris Saint Germain.
The Spanish club confirmed the signing shortly before midnight on Monday, sealing the transfer for a fee of around 40 million euros.
Valencia confirmed on the club website that they had "reached the principle of an agreement with PSG for the definitive purchase of Goncalo Guedes, who will travel to Valencia on Tuesday to sign his new contract."
Guedes spent last season on loan with Valencia and played a major role in the excellent season which saw the club finish fourth in the Liga Santander and qualify for this season's Champions League.
Meanwhile the sale of the Portuguese international will take some of the pressure off PSG who are awaiting a ruling from UEFA to see if the club has infringed Financial Fair Play rules and have to tighten its belt accordingly.