Athletic Bilbao re-sign Mikel Balenziaga

Athletic Bilbao have re-signed Spanish left-back Mikel Balenziaga from Real Valladolid.

The 25-year-old left the Biscay club in August 2011 to join Valladolid, for whom he made 72 league appearances.

However, Bilbao have now exercised a buy-back clause in the player's contract.

It is believed that Bilbao will pay Valladolid a fee in the region of £255,000 for Balenziaga's services.