Benfica take on and loan out Pizzi

SL Benfica have signed Pizzi from Club Atlético de Madrid on a six-year contract, with the Portugal winger immediately joining RCD Espanyol on loan for the upcoming campaign.

The Portuguese Liga runners-up have paid €6m for 50% of the player's rights, with the other half remaining with Atlético. Pizzi – whose new deal will feature a €35m release clause – moved to the Spanish capital from SC Braga in August 2011 in a loan transfer that was quickly made permanent.

After just 11 substitute outings with the Rojiblancos in the Liga, the wide man was loaned to RC Deportivo La Coruña for the 2012/13 season although his eight goals in 35 top-flight appearances could not spare the club from relegation. He was capped for the first time by Portugal in November last year.

Pizzi had been recruited by Braga in 2007 but did not rise to prominence until a loan spell at FC Paços de Ferreira from 2009 to 2011, in which he hit a hat-trick in a 3-3 draw with FC Porto at Estádio do Dragão. His new long-term employers Benfica will enter the UEFA Champions League at the group stage, the draw for which takes places on 29 August in Monaco.