Valencia says it has reached a deal to sign Portugal winger Goncalo Guedes from Paris Saint-Germain.
Guedes played for Valencia last season on loan from the French club.
Valencia did not give details on the transfer fee and contract length on Monday, though Spanish media said the deal was worth 40 million euros ($46.7 million).
The 21-year-old Guedes was part of Portugal's squad at the World Cup in Russia.