Swansea City confirm Michu signing

Swansea City have announced the signing of Rayo Vallecano midfielder Michu following weeks of discussions.

The Welsh outfit were expected to wrap up the deal following reports that the 26-year-old had undergone a medical yesterday.

"It's a fantastic signing," said Laudrup. "We are talking about a player who scored 15 goals in the Spanish league last year for a small club, who were saved by the bell in the last minute of the last game to avoid relegation.

"He was a big difference for them with his goals. We lost [Gylfi] Sigurdsson, who played in that position for half a season, so to sign a player like Michu is fantastic for us when you look at the price and quality of the player. It is a bargain."

It is understood that Swansea agreed a fee of £2m for the playmaker, who has signed a three-year contract.