David Villa will not be moving to the English Premier League after all.
The Spanish international forward completed his transfer from Barcelona to Atletico Madrid for a €5.1 million fee (£4.4 million, $6.5 million) with Barca entitled to 50 percent of any future transfer fee.
Villa had been linked with a move to the likes of Arsenal and Tottenham over the past six months, but the 31-year-old, who was clearly surplus to requirements at the Camp Nou, has chosen to stay in Spain and look to make his mark at Atletico, who were in desperate need of a proven striker following the departure of Radamel Falcao to Monaco.
"Barca and the Madrid club have reached an agreement in principle for the transfer of the Asturian player," Barcelona said in a statement on their official website.
"The deal will cost a maximum of €5.1million, with 2.1 million this season, 2 million more if the player is still at Atletico Madrid in the 2014/15 season and another million if he stays until the 2015/16 season.
"As well as that, Barca have reserved 50 percent of the rights of any future transfer of the player."
Villa leaves Barcelona after spending three years with the Spanish champions, having made a big-money move from Valencia in 2010.
"Atletico Madrid and Barcelona have reached an agreement in principle for the transfer of striker David Villa," a statement on Atletico's official website said.
"This agreement will be consolidated once the Asturian player undertakes his medical and signs his contract with our club."
Villa was on the radar of Arsenal in January, with Arsene Wenger making a considerable bid for the prolific striker.
However, Barcelona rebuffed all advances, saying their player was not for sale in the January transfer window, with Arsenal looking elsewhere once the summer transfer window opened.
Tottenham are also in the market for a striker and was heavily linked with a move for Villa over the past month or so, but with Atletico able to provide Villa a chance to continue playing in the Champions League, it was always going to be difficult for Spurs to convince the player to switch to White Hart Lane.