Valencia have completed the signing of Sporting Lisbon defender Joao Pereira.

The Portuguese club made the announcement on Thursday, outlining the details of the deal they have struck with their Spanish counterparts.

"Sporting reached an agreement with Valencia for the transfer of Joao Pereira for a set fee of €3.7million and a variable fee of €526,000, depending on whether Valencia participates in the Champions League group phase or not," Sporting wrote in a statement published by Portuguese regulator CMVM.