Having already signed Fernando Gago from Real Madrid CF, Valencia CF have returned to the Santiago Bernabéu to recruit former loanee Sergio Canales on a permanent basis.
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Valencia CF attacking midfielder Sergio Canales promised to help the club "to the maximum of my ability" after the 21-year-old made a permanent move to the Mestalla from Liga champions Real Madrid CF.
Canales has signed a five-year contract with Mauricio Pellegrino's side after an injury interrupted season-long loan spell at Valencia last term. The Real Racing Club academy graduate was limited to eleven top-flight appearances after he twice tore the anterior cruciate ligament in his right knee.
The former UEFA European Under-17 Championship winner and U21 international said his immediate goal was to regain full fitness. "I am keener than ever to recover and to get out on the pitch to repay the faith Valencia have shown in me," he said. "I have always felt enormous affection from the fans here and I want to recognise that by doing the best I can."
Canales first rose to prominence by scoring six goals in 32 Liga games for Santander outfit Racing, prompting a transfer to Madrid where he made just three top-flight starts under José Mourinho.
Reportedly part of the recent deal that took midfielder Fernando Gago from Madrid to Valencia, Canales links up with fellow new signings João Pereira and Andrés Guardado. Valencia begin their 2012/13 UEFA Champions League challenge from the group stage.