Arsenal confirm £34.5m transfer is done as Mikel Arteta lands first summer signing

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Arsenal have turned Piero Hincapie's loan deal into a permanent one, triggering an option worth €40million (£34.5million) plus add-ons to retain the defender's services.

Hincapie joined the Gunners last September from Bayer Leverkusen, initially on loan. However, a deal to make the Ecuador international a permanent member of Mikel Arteta's squad has long been regarded as a formality, with the 24-year-old impressing in north London last season. He made 25 Premier League appearances to help Arsenal win a first domestic title since 2004.

Arsenal's option to sign Hincapie permanently has not deterred talk that others could attempt to land the versatile defender, with Real Madrid among those who were said to be keen on signing him.

But Hincapie has committed his future to Arsenal, signing a contract until 2031.

The Gunners have confirmed that Hincapie's move will become official on July 1. The defender is currently at the World Cup with Ecuador.

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