Manchester City will sign Ruben Dias for an initial fee of £48m, Portuguese side Benfica have confirmed.
In two official statements on Sunday night, Benfica confirmed they have reached an agreement for the sale of Dias, 23, to City, with Argentine defender Nicolas Otamendi heading to Lisbon in a separate deal.
Pep Guardiola wouldn't be drawn on City's new signing after Sunday's Premier League defeat to Leicester, but Dias and Benfica manager Jorge Jesus said on Saturday the Portugal international had likely played his final game for Benfica.
Now, the Primeira Liga side have confirmed Dias is bound for the Etihad for a transfer fee of €68m (£61.9m), plus a further €3.6m (£3.2m) in variables depending on his success at City.
That price will be offset by the sale of Otamendi to Benfica for €15m (£13.6m), which was also announced by the Portuguese side.
That means the total outlay from City could rise to £51.5m if the bonuses are activated - far less than the €70m values said to be needed to prize Kalidou Koulibaly away from Napoli.
Otamendi, 32, leaves City after five seasons, in which he won two Premier League titles, three League Cups and an FA Cup. He had not featured so far this season.
