Barcelona have struck a deal to sign Valencia and Spain left-back Jordi Alba for €14m on a five-year contract.
"Barcelona Football Club has today reached an agreement with Valencia for the transfer of Jordi Alba, pending a medical which he will undergo in Barcelona next week," a statement from the Catalan club said. "The cost of the transfer will be €14m and the player will sign a contract for the next five seasons."
The Barcelona sports press had been buzzing with rumours of a northward move for Alba, 23, a Catalonia native who trained in Barça's youth academy and impressed last season in La Liga, where Valencia finished third.
"He is young, quick and skilful and stands out for his attacking spirit, and often poses a headache for rival right-backs," the club said.
Alba has also played a part in the march of Spain's squad to the final of UEFA EURO 2012 tournament next Sunday.
"He has become one of the sensations of the tournament thanks to his displays of power and skill down the left wing," Barcelona continued.
It was the first new signing for Barcelona since the departure of its multiple trophy-winning coach Pep Guardiola at the end of last season. He handed over the reins to his assistant Tito Vilanova after Barcelona failed to beat their fierce rivals Real Madrid to the Spanish title.