Giovinco returns to Juventus

Azzurri star signs three-year deal with Old Lady

Sebastian Giovinco: Juventus buy up co-ownership of striker

Italy international Sebastian Giovinco will return to Juventus next season after his co-ownership deal with Parma was bought up by the Serie A champions.

The diminutive forward grew up playing his football at the Bianconeri, although he has spent the last two seasons at Parma.

Juve have reportedly paid a fee in the region of £8.9million and the 25-year-old has penned a three-year deal that will keep him at the Turin giants until 2015.

"Juventus announce that they have terminated in their favour the current player-sharing agreement with Parma concerning Sebastian Giovinco," Juve said in a statement on Thursday.

"The sum for the termination has been set at €11million which will be paid by Juventus in the next three seasons. The contract signed by the player will last until June 30, 2015."