Corinthians confirm they have sold their stake in Alexandre Pato, setting up a move that will send the former Selecao man to Villarreal.
The Brazil club said via news release that they would not release the terms of the deal by mutual agreement between the two clubs, but reports say the Spanish Primera Division side will pay Corinthians in the area of €3 million for 60 percent of Pato's rights.
The move puts a somewhat happy end to a disastrous signing for Corinthians, who spent €15m to bring Pato from AC Milan in the winter of 2013, only to loan him out soon after to rivals Sao Paulo and then to Chelsea last winter.
Corinthians sporting director Edu Ferreira confirmed on Tuesday that there was agreement in principle between the two clubs. Villarreal have yet to make the transfer official.
The 26-year-old's contract with Corinthians was set expire in December, allowing him to negotiate a free transfer with any club.
Pato had reportedly refused an offer from Lazio earlier this summer, angering his parent club who were seeking to recoup any money from their hefty initial investment.
Pato played 62 games for Corinthians, scoring 17 times, while appearing in 101 matches and collecting 38 goals in two years at Sao Paulo.
He played just two matches in five months for Chelsea, scoring once.