Velez Sarsfield has confirmed on its official website that it has reached an agreement with Inter over the transfer of midfielder Ricky Alvarez for a fee of $17 million.
Inter has acquired 90 percent of the player's economic rights and is obliged to purchase the remaining 10 percent for a fee of 1 million euros when Alvarez has made 80 first-team appearances for the world champions.
Inter has yet to confirm the transfer on its official website, but is expected to make an announcement later on Wednesday.
Alvarez has reportedly signed a five-year deal worth 1.8 millions euros per annum with the 2010 Champions League winners.
Inter was eager to add some creativity to its squad ahead of the 2011-12 campaign, and new head coach Gian Piero Gasperini has now secured the reinforcement he was searching for in the form of Alvarez, who was also being monitored by Arsenal and Roma.