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Barcelona confirm David Villa transfer to Atletico Madrid

Barcelona confirm reports that they have agreed a deal to sell David Villa to Atletico Madrid.

Barcelona have confirmed that they have agreed a deal to sell David Villa to Atletico Madrid.

Reports surfaced of the deal earlier today, although neither club had officially confirmed the rumours.

However, Barcelona have now revealed that the two clubs have agreed a deal in principle for the 31-year-old and also outlined the financial details of the transfer.

"Barca and the Madrid club have reached an agreement in principle for the transfer of the Asturian player," read a statement on the club's official website.

"The deal will cost a maximum of €5.1m (£4.3m), with €2.1m (£1.8m) this season, €2m (£1.7m) more if the player is still at Atletico Madrid in the 2014-15 season and another €1m (£800k) if he stays until the 2015-16 season.

"As well as that, Barca have reserved 50% of the rights of any future transfer of the player."

Atletico also confirmed that they have agreed to sign Spain's record goalscorer subject to a medical.

"Atletico Madrid and Barcelona have reached an agreement in principle for the transfer of striker David Villa," read a statement on their official website.

"This agreement will be consolidated once the Asturian player undertakes his medical and signs his contract with our club."

Villa scored 48 goals in 116 matches for Barcelona having joined from Valencia for around £34m in 2010.

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Barcelona's David Villa is congratulated by team mates after scoring against Cordoba on January 10, 2013
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Saturday's key events

· After silvers in both the men's and women's events, Team GB will be fancied to get on the podium again in the mixed relay (11.30pm-1am)

· Touted as Michael Phelps's successor, Caeleb Dressel already has two gold medals from these Games and he will be going for a third in the men's 50m butterfly final (2.30am)
· It is Katie Ledecky vs. Ariarne Titmus III in the women's 800m freestyle final, with Ledecky entering as firm favourite (2.46am)
· Great Britain will be heavily fancied to add another gold medal to their swimming haul, having produced by far the fastest qualifying time for the mixed 4x100m medley relay final (3.43am)

· Dina Asher-Smith is one of three British women in the 100m semi-finals (3.01am-3.20am), and will hope to challenge for a medal in what is likely to be a star-studded final (1.50pm)
· The inaugural Olympic 4x400m mixed relay event concludes with Great Britain one of the eight finalists going for gold (1.35pm)

· Team GB's dreams of an unlikely gold are still alive in the women's event as they face France in their semi-final (3.30am). The winners will face either New Zealand or Fiji in the gold medal match later in the day (10am)

· Gold medals are up for grabs in the windsurfer - RS:X finals. Emma Wilson participates for Team GB in the women's final (6.33am), while Tom Squires is in action in the men's (7.33am)

· Following his shock semi-final defeat, ending his hopes of a Golden Slam in 2021, Novak Djokovic battles for bronze against Pablo Carreno Busta (7am)
· The women's singles event reaches its conclusion with the gold medal match between Belinda Bencic and Marketa Vondrousova

> Today's schedule in full
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