Athletic Bilbao have signed Gorka Iraizoz from Espanyol in a move that sees Inaki Lafuente head in the opposite direction in a season-long loan deal.
The Basque Country side have agreed to pay 4.6million Euros (£3.1m) for the 26-year-old keeper.
New Athletic coach Joaquin Caparros is a big admirer of Iriazoz , who attracted interest from a host of clubs during his two-year stay at the Olympic Stadium.
Talks began between the two clubs began before the presidential elections at San Mames and were finalised after Fernando Garcia Macua was installed at the helm.
Lafuente agreed to join Espanyol to work under former Athletic coach Ernesto Valverde.
He has been signed as cover for Carlos Kameni but with Kameni due to compete in the African Nations Cup, Lafuente is likely to see plenty of first-team action.