“Valencia CF have reached an agreement with Atlético Madrid, which still needs to be formalised, for the transfer of Kevin Gameiro,” said a statement from Valencia, who finished fourth in La Liga last season and will compete in the Champions League group stage.

Gameiro, 31, struck 27 goals and provided 11 assists in 83 games in all competitions for Atlético, having joined the Madrid side from Sevilla in 2016 for a reported 27 million euros (RM126 million). His presence in the team faded after January, however, when Diego Costa rejoined the club.

Gameiro lifted one trophy during his time at Atlético, the 2018 Europa League, although he was an unused substitute in the 3-0 win over Marseille in the final.

Gameiro is the second striker Valencia have picked up in three days following the acquisition of Belgium international Michy Batshuayi on loan from Chelsea on Friday.