Barcelona on Tuesday confirmed they have reached an agreement to sign Ferran Torres from Manchester City for a reported fee of 65 million euros (73.6 million dollars).
The Spain international returns to LaLiga following an 18-month spell in the Premier League and has signed a deal until June 2027.
Barca are said to be paying an initial 55 million euros and as much as 10 million euros in add-ons.
The Catalan giants revealed a 1 billion euros release clause has been inserted in Torres' contract and he will be officially unveiled at Camp Nou on 3 January.
City initially spent roughly 23 million euros to sign Torres from Valencia in 2020, meaning they have more than doubled their money on a player who has never truly been considered a first-choice starter.
Debts
Barca had been linked with Torres in pre-season but their crippling financial state meant transfer outlays were implausible.
The club's debts have topped 1.4 billion euros this year and as a result of their financial performance, they saw their LaLiga salary cap slashed by 280 million euros to just 97 million euros, hence their inability to retain Lionel Messi.
Torres' arrival means new coach Xavi has the type of young, dynamic attacker he had been after, with the 21-year-old capable of playing through the middle and out on the right, where he was most-frequently used at Valencia.
Since Xavi's return to Barca as head coach, he has spoken regularly about a desire to play with classic wingers, while his reluctance to use Luuk de Jong as the focal point of their attack has suggested a preference for a quick and energetic central striker – Torres fits the bill on both counts.
