Rome: Inter have completed the 10 million pound signing of Velez Sarsfield midfielder Ricky Alvarez.
The 23-year-old Argentine was the subject of sustained interest from Arsenal, however, the Serie A club have beaten Arsene Wenger's side to one of their transfer targets.
Inter have acquired 90 per cent of the player's economical rights and are obliged to purchase the remaining 10% for a fee of 1m euros (900,000 pounds) when Alvarez has made 80 first team appearances for the Coppa Italia winners.
A statement on Velez's website confirmed the news: "Velez Sarsfield Athletic Club announces that it has reached an agreement with the authorities of FC Inter Milan - Italy for the transfer of our player Ricardo Alvarez.
"The operation round the sum of USD 17,000,000 [10m pounds] for 90% of the economic rights being at the head of our institution, the remaining 10%. On this percentage, Inter were forced to choose to buy Velez Sarsfield fulfilled after 80 appearances in his first team in the sum of One Million Euros [900,000 pounds] or our organization can continue to maintain that rate for a future sale."
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