- Associated Press - Monday, September 1, 2014

VALENCIA, Spain (AP) - Valencia signed striker Alvaro Negredo from English champion Manchester City moments before the close of the transfer market on Monday.

Valencia said City agreed to loan Negredo to the Spanish club, with the deal including what it called an “obligatory” option to later buy the player.

Valencia made the announcement on the stroke of midnight local time as the summer transfer window closed. It did not disclose the financial details of the deal.

Negredo is recovering from a broken right foot he suffered in a preseason game in July.

The 29-year-old Negredo joined City last summer from Sevilla on a deal reportedly worth 20 million pounds (then $30 million), but after a promising start his production of goals waned as the season wore on.

He scored 23 goals in 49 appearances for City, helping it win the Premier League and League Cup.

He was also part of Spain’s European championship squad in 2012.

Negredo is the first high-profile player Valencia has brought in since Singapore tycoon Peter Lim bought the club. He will join Paco Alcacer and new arrival Rodrigo Moreno in attack.