Daylight robbery
Real Madrid have swooped to sign defender Pepe from Porto on a five-year deal.
The centre back, full name Kleper Laveran Lima Ferreira, becomes Real's first signing of the summer and the first since the arrival of new coach Bernd Schuster.
"Real Madrid and Porto have reached an agreement for the transfer of defender Kleper Laveran Lima Ferreira, 'Pepe'," read a statement on Real's official website.
"The player has signed a five-year contract and will join up with Real's squad immediately."
Reports in Portugal suggest Real have parted with €28 million (£19 million) to land the Brazilian-born stopper who helped Porto to the Portuguese title last term.
The signing of the 24-year-old would appear to have ended Real's interest in Romanian defender Cristian Chivu whom the Spanish champions had been chasing for some weeks.
Meanwhile, Julio Baptista insists he expects to start next season with Los Merengues despite being farmed out on loan to Arsenal last term.
'The Beast' is currently on Copa America duty with Brazil but is looking forward to returning to Spain and believes he still has a future at the Santiago Bernabeu.
"When the Copa finishes I will return to Real Madrid, the club with whom I have a contract and with whom I will undertake pre-season," he stated.
"The most important thing is that I return to the club who signed me.
"What's more, Spain is a place I like living and I will give everything to be able to play there again."