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Real Betis have closed the signing of Ayoze Pérez from Leicester City and have already exchanged documents for the transfer.

That’s according to ABC Sevilla, who say that thanks to an ‘economic readjustment’ at the club they have been able to make space in their salary cap and push the deal over the line.

According to their information, Pérez will join Betis on loan until the end of the season, but the Spanish side will not pay anything for the deal.

An agreement was reached with Leicester earlier this afternoon and the two sides are already ‘exchanging documents’, which will be signed shortly.

Betis had looked set to miss out on his signature after a planned exit broke down but they have worked internally to find space in their wage budget to allow them to add Pérez to their squad until the end of the season.

The Leicester man will now travel to Sevilla on Wednesday having ‘respected the pact’ he agreed last week and ignored interest from Villarreal. He has also lowered his wage demands to make the move.

That is because he wants to gamble on working under Manuel Pellegrini, who has been a supporter of the transfer from day one.

Pérez’s plan is to try and reinvigorate his career in the coming months in the hope of either convincing Betis to make the move a permanent one in the summer or open the door to a Champions League team in La Liga.