Juventus have released a statement officially confirming the signing of Portuguese right-back Joao Cancelo from Valencia.

The Portuguese full-back joins the Bianconeri on a 5-year contract costing Juve €40.4m in total:

“Juventus Football Club S.p.A. announces that the agreement with Valencia Club de Futbol SAD for the definitive acquisition of the registration rights of the player João Pedro Cavaco Cancelo has been finalized for a consideration of € 40.4 million payable in three financial years.

“This acquisition will generate economic and financial effects starting from 2018/2019 sportive season.

“Juventus and the player have signed a 5-year contract of employment until 30 June 2023.”

The full-back had his medical this morning at the J-Medical centre in Turin and put pen to paper on the five-year contract.

“Valencia CF have signed an agreement with Juventus FC for the transfer of full-back Joao Cancelo to the Italian club,” read a statement from the Spanish side.

“VCF wish the Portugal international the best for this new step in his career.”