Sporting confirm Veloso sale
© AFP

Sporting Lisbon have confirmed they have agreed to sell highly-rated defensive midfielder Miguel Veloso to Serie A side Genoa for nine million euros.

The Portuguese giants, however, have made sure they are paid well for releasing Veloso by including several stipulations in the contract, according to a club statement published on the Portuguese stock exchange (CMVM).

Sporting will receive a further 500,000 euros from Genoa if the Italian club qualify for a group phase of a UEFA-affiliated competition, such as the UEFA Champions League or the UEFA Europa League.

And if the 24-year-old Veloso is sold on for a fee of 10 million euros or more, Sporting "have the right to receive 20 percent of the profits".

Sporting had agreed to selling Veloso on Friday, when the club also announced the arrival of Spaniard Alberto Zapater, a midfielder who played for Genoa last season having made his name at Real Zaragoza.

In Tuesday's statement Sporting said they had "definitively acquired the rights to Alberto Zapater for two million euros".

Sporting finished fourth in the Portuguese top flight last season, 28 points behind champions Benfica.

Veloso played a starring role in the UEFA Europa League last season for Sporting, who made it to the last 16 of the UEFA competition before losing on the away goals rule to eventual winners Atletico Madrid.