Manchester City have agreed a deal to sign Spain international David Silva from Valencia on a four-year contract.
Silva, 24, has long been linked with a move to the Premier League and City were believed to be competing with Chelsea for his services, but it has now been confirmed he will be heading to Eastlands.
A statement on Manchester City's official website read: "Manchester City have reached an agreement with Valencia over the transfer of David Silva.
"The player's advisers and officials from both clubs have finalised the details over a four-year contract, which will bring the 24-year-old to City of Manchester Stadium. He will complete his medical and officially become a City player once his involvement in the World Cup is over."
Silva, speaking from South Africa, said: "Firstly, I would like to thank Valencia as a club and all of their loyal fans, and my team-mates there and staff. I have enjoyed six years at Valencia, they discovered me as a footballer and they will always be a special club for me.
"The time is right for me to seek a new challenge, and I am thrilled about playing in England with Manchester City. I believe the Premier League is one of the best competitions in the world and I want to bring success to City and win trophies for them.
"There has been a lot of speculation about me in the British and Spanish media, and I need to fully concentrate on playing for Spain in the World Cup. That is why my advisors have been dealing with City for me so that I can have my attentions only on South Africa and playing well for my national team."
City boss Roberto Mancini said: "I am so pleased he is coming to us. I think he can make a big, big impact for Manchester City. In signing David, we are showing the world that we are bringing the best players here and that we hope to compete to win the Premier League. When players see what is happening at Manchester City and the ambition, they are attracted to what we are building and want to be a part of it.
"I hope he does very well for Spain in the World Cup and then joins us for our pre-season, ready to compete in the Premier League. I am very excited about seeing him playing for Manchester City."
The move to sign Yaya Toure from Barcelona is close to completion.
A statement on Barcelona's official website on Tuesday read: "Barcelona's director general Joan Oliver has said that the club has agreed the exits of Yaya Toure and Thierry Henry, but that at the moment the final moves are in their hands.
"In case of Toure, Oliver has recognised an understanding between the club interested in the midfielder, Manchester City, and Barca, but the transfer cannot be made official yet."