Man City agree Fernando deal
Porto have announced they have agreed a deal to sell midfielder Fernando to Manchester City.
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City were close to signing Fernando in January but were unable to agree a fee for the player.
Fernando, who has already passed a medical and agreed personal terms with City, will now move to the Etihad Stadium for a fee of around £12million.
The 26-year-old will become Manuel Pellegrini’s second signing of the summer following Bacary Sagna’s arrival from Arsenal on a free transfer.
Porto released the following statement to the Portuguese stock exchange confirming the news of Fernando’s transfer.
"FC Porto Football Club, in accordance with Article 248 paragraph 1 of the securities code, hereby informs the market that they have reached agreement with Manchester City for the permanent transfer of the registration rights of the professional footballer Fernando Reges for the amount of €15million," it read.