Big spending Malaga have sealed the signing River Plate playmaker Diego Buonanotte for £3.8million.
The 22-year-old Argentina forward was prepared to stay with River before switching to Manuel Pellegrini's side.
However, the La Liga outfit have decided to push through the deal although they may send the youngster back to the Buenos Aires giants on loan until June.
Malaga having already signed Martin Demichelis and Julio Baptista in the January transfer window.
The signing of 'El Enano' on a five-year contract is another major step forward for the club owned by Qatari Sheikh Abdullah Bin Nasser.
Buonanotte is seen as one of the most promising midfielders in Argentina and had been linked with many clubs in Europe.
Málaga owner Sheikh Abdullah has decided to act after seeing his team go into 2011 entrenched in the bottom three in the table, with the Qatari businessman sanctioning the signing of five players with the promise of more to come. The Sheikh is in danger of seeing his significant investment under serious threat, and it means the Costa del Sol club are in the unaccustomed position of being the biggest movers in Spain so far during the January transfer market.
First to arrive was ex-Sevilla and Juventus midfielder Enzo Maresca, who rescinded his contract with Greek side Olympiacos back in August and has been training with another of his former teams, Fiorentina, in a bid to maintain fitness. He was swiftly followed by the double-signing from Atlético Madrid of two Spanish youth internationals, goalkeeper Sergio Asenjo and central midfield player Ignacio ‘Nacho’ Camacho. Asenjo arrives on loan until the end of the season, having lost his place in the starting eleven last year due to the emergence of David de Gea, and 20-year old Camacho has penned a four-year deal for an undisclosed fee, with Atlético retaining the option to buy the player back until 2013.
Experienced Argentinian centre-back Martín Demichelis has also arrived on loan from Bayern Munich until June, linking up again with manager Manuel Pellegrini under whom he played at River Plate between 2001 and 2003. Demichelis appeared in all his country’s games at the 2010 World Cup, but fell out with Bayern boss Louis van Gaal at the start of the season when he was left out of the team for the season’s opener against Wolfsburg. He was previously a key member of the Bayern squad which did the double in 2005, 2006 and 2010.
The fifth and possibly most high-profile reinforcement arrived in the shape of attacking midfielder Julio Baptista. The Brazilian - whose former clubs include Sevilla, Real Madrid and Arsenal (loan) - was snapped up from Roma for a fee of £1.75m and has been given a three-year deal worth a reported £2.25m. Nicknamed ‘The Beast’, Baptista has played almost 50 times for his country and during his time at Sevilla scored an impressive 38 goals in 63 appearances, prompting a £13.8m move to Real Madrid - Málaga will be hoping for a similar return in their bid to beat the drop.
t looks as if the spending will not be stopping there either. River Plate winger Diego Buonanotte is also on the radar, but Málaga could have to fight off interest from Sunderland to land a player who was once labelled the ‘new Maradona’. Swiss left-back Reto Ziegler, currently with Sampdoria, is another to be strongly linked, with his agent flying into Málaga earlier this week to try and reach an agreement for the 24-year old. However, everything could depend on whether los blanquiazules can resurrect a deal for Sporting Gijón’s José Ángel, which was thought to be dead in the water two weeks ago but is now a possibility once more.
Sky Sports News understands Atletico Madrid and Malaga are hoping to sign Cardiff City striker Jay Bothroyd on a free transfer. Bothroyd's contract at Cardiff expires at the end of the season and he is currently keeping his options open regarding his future.
His sparkling form in the Championship this season, following 13 goals in 17 games, has seen the 28-year-old attract interest from clubs across Europe.
The former Perugia front-man has been linked with a return to Italy, while Premier League trio Birmingham City, Everton and Fulham are keeping tabs on his situation.
However, there is also now interest from Spain in Bothroyd, who made his England debut in the friendly defeat by France last month.
Atletico and Malaga are both exploring the possibility of agreeing a pre-contract with Bothroyd next month with a view to the forward joining on a free transfer next summer.
Malaga have confirmed the signing of Brazil international Julio Baptista from Roma on a three-and-a-half year deal.
The 29-year-old, a former Sao Paulo, Sevilla, Real Madrid and Arsenal player, has already passed his medical with Manuel Pellegrini's side and will be officially unveiled by the Primera Liga club on Tuesday.
PLAYER DETAILS
Name: Julio Baptista
Age: 29
Club: Malaga
Position: Attacking Midfielder
Squad No: 19
Born: São Paulo, Brazil
Height: 1.83m
Out-of-favour Bayern Munich defender Martin Demichelis has completed his transfer to Malaga.
The 30-year-old has joined the Primera Division strugglers initially until the end of the season, with an option for a further two years.
He makes the switch for an undisclosed fee after passing a medical and can not wait to get started in Spain.
"I hope that I can settle into the team as quickly as possible," said the Argentinean defender.
By making the move, the defender rejoins Manuel Pellegrini, who was his coach at River Plate before he moved to Bayern in 2003.
"We have a great reciprocal faith," Demichelis told Bayern's official website.
The defender won four German titles at Bayern but fell out of favour with current boss Louis van Gaal this term, making only eight appearances.
He joins to help Malaga's relegation fight, with his new club currently sitting third from bottom of the Spanish top flight, with just 13 points from their opening 16 games.
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