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The integral midfielder has committed his future to the MLS side, signing a multi-year extension after joining the Timbers on a permanent basis.

The Portland Timbers watched as the rival Seattle Sounders made a huge splash by signing Clint Dempsey, but they did not let the week go by without making a notable move of their own.

Portland announced Tuesday that it purchased the contract of Designated Player and attacking midfielder Diego Valeri outright from Argentine club Lanus and signed him to a multi-year deal. Exact terms of the new deal were not disclosed.

Valeri, 27, has been a major hit for the Timbers in his first MLS season, making an immediate impact after joining the league on loan from Lanus in January.

In his 20 league games (all starts) Valeri has accounted for four goals and eight assists, and his three multi-assist games lead MLS. He was also named to the inactive MLS All-Star roster for his accomplishments, which have helped an improved Portland side to an 8-3-11 record thus far.

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