Swansea City have signed Spanish attacking midfielder Michu for £2million.
The 26-year old, full name Miguel Perez Cuesta, has penned a three-year deal with the Swans after passing a medical on Thursday.
Michu becomes Michael Laudrup's third signing since the new boss arrived in Wales and he is excited to play under the Danish great.
"I'm very happy. I had other offers, but I really wanted to come to Swansea because of the coach (Michael Laudrup), the style of play and the Premier League," he said.
"I've always followed the Premier League from Spain and I watched a lot of Swansea games last season. They played good football and I liked their style.
"I also know how Michael Laudrup's teams play, so I'm looking forward to being part of that. The coach (Laudrup) was fundamental to me joining Swansea. I remember watching him as a player - he was a machine.
"I'm a bit sad to leave Rayo because they gave me my chance in the first division in Spain. I will always be grateful to them for that."