Swansea have completed the signing of Jose Canas from Real Betis on a free transfer, while chairman Huw Jenkins allayed fears of a disagreement between himself and Michael Laudrup, by insisting there are plenty of funds available for the talented manager to make use of in the summer transfer window.

Canas, who is out of contract at the end of the month, enjoyed a brilliant season with Betis in La Liga, helping them to a Europa League playoff spot, but will now feature for Swansea in the same tournament after agreeing on personal terms with the Welsh club.

"Swansea City have today (Thursday) finalised personal terms with Real Betis midfielder Jose Canas," the club said in a statement on their website. "The Spaniard has signed a pre-contract with the club which will be ratified once the transfer window opens on July 1."

The signing will be welcomed by Laudrup, but the manager is reportedly unhappy after being rebuffed by the board as he looked to make moves for the likes of Alvaro Negredo of Sevilla and Pierre-Emerick Aubameyang of St. Etienne.

Reports suggested Laudrup could even quit the club, despite signing a new contract recently, and was not on talking terms with Jenkins.

However, Jenkins played down the reports, saying the club have "substantial funds" to invest in players in the summer and there are absolutely no problems with Laudrup.

"Myself, the manager and our recruitment staff are all agreed on the quality of players we would like to sign to help us remain competitive in the Barclays Premier League," Jenkins told the club's official website.

"We are continuing to work behind the scenes, in private wherever and whenever we can, to strengthen our squad.

"For that reason it's disappointing that I have to respond to the speculation of unrest at the club after the fantastic season we have had.

"There are substantial funds available to strengthen our squad over the summer while we are also in the privileged position, because of the way we've managed our finances over the years, that we do not need to sell anyone to fund those new recruits.

"It goes without saying that some of our targets will sign for other clubs for different reasons. But that's the same for every club. The important thing, and a factor that has always been vitally important for us, is that we sign players who want to play for Swansea City for footballing reasons. If not, then we move on to the next target.

"I think most people will agree that it is a policy that has served this football club, and more importantly our fans, well over the last decade.

"It is true that I have not sat down with our manager since the last game of the season against Fulham, but that's because we have both been away on holidays at different times. It doesn't mean we haven't spoken because I've had numerous conversations with Michael over the phone and there's been no difference of opinion on our original transfer targets.

"We have built up a strong reputation over the last few years at Swansea and I believe we have gone about our business in the right way. We have to remain strong for the sake of our supporters and make sure this proud reputation is protected at all costs.

"A lot of hard work has been done to try and maintain and improve on the incredible journey we have had over the last 10 years. That work will continue."