The midfield schemer will not be relegated with Las Palmas and instead join Champions League qualifiers Villarreal.
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Villarreal see Moleiro as a replacement for Alex Baena, who is a step away from joining Atletico Madrid.
While he played centrally for Las Palmas, Villarreal coach Marcelino sees Moleiro as a direct successor for Baena on the left wing.
Moleiro rejected a lucrative move to the Saudi Pro League in January to remain with Las Palmas last season.