Newcastle have agreed to a take a huge loss on Portuguese midfielder Hugo Viana having struck a deal to sell him to Valencia for é¼2 million (£1.2 million).
Viana arrived at The Magpies in the summer of 2002 when Sir Bobby Robson paid Sporting Lisbon £8.5 million for his services.
However, having failed to establish himself at St James' Park, Viana joined Valencia on a season-long loan at the start of the campaign.
Although he has not been a regular at The Mestalla this term, he has done enough to convince the Che top brass that he will prove a big success in Spain.
They have handed him a five-year deal claiming that they wanted to finalise a permanent deal ahead of the World Cup, fearing a stellar showing from the gifted midfielder could lead to interest from other European sides.
Newcastle were originally holding out for a fee in the region of é¼5 million (£3 million), but have now accepted just £1.2 million meaning a total loss on the 23-year-old of over £7 million.
"Viana has great potential and is a very interesting player for us," explained Valencia director of sport Javier Subirats.
"He is a young player who will play at the World Cup and because of that we decided to close the transfer now."