Fluminense president Mário Bittencourt insists a deal for Atletico Madrid signing Marcos Paulo is not yet settled.

While confirming Paulo will join Atletico, Bittencourt admits negotiations are continuing over the percentage of sell-on fee.

He said, "He has already signed a pre-contract with Atlético de Madrid. I don't even know the terms.

"He is free to leave in July. What we are trying to do is for him to leave now.

"He wants to leave in January and for us to receive some future compensation or percentage of his sale."