Porto have confirmed the sale of attacking midfielder Fabio Vieira to Arsenal for a fee potentially rising to €40 million (£34.26 million).
The Portuguese club confirmed the sale in a statement released to Portuguese stock market on Friday, June 17, saying “(Porto), under the terms of article 248 n1 of the Securities Code, hereby informs the market that it has reached an agreement with Arsenal FC for the assignment, on a definitive basis, of the sports registration rights of professional football player Fabio Vieira for 40M (forty million euros), of which 5M (five million euros) are dependent on the achievement of sporting objectives.
“It is further informed that the final agreement is still being finalized and is expected to be implemented in the next few days.”
Vieira made 39 appearances for Porto this season, scoring seven goals and providing 16 assists.
He can also feature as a false nine or central midfielder and has been a regular starter for Portugal Under-21.
Arsenal will pay an initial €35 million (£30 million), with a possible €5 million (£4.26 million) in add-ons.
Vieira’s signing will be Arsenal’s second incoming of the summer, after the arrival of 19-year-old Brazilian Marquinhos.