Real Betis midfielder Jose Canas has signed a pre-contract agreement with Swansea City and will move to the Welsh club on July 1.
Canas, 26, is the first signing of what should prove to be a busy summer for Swansea ahead of demanding third season in the Premier League which has to be coupled with Europa League football. And chairman Huw Jenkins insists manager Michael Laudrup will have "substantial funds" to strengthen his squad.
Recent press reports had speculated that Laudrup was unhappy with the transfer budget available to him, stories which have now been rubbished by Jenkins.
Canas, a defensive midfielder, came through the ranks at Betis, and made his first-team debut at the Benito Villamarin in a 2-0 La Liga home defeat to Atletico Madrid four years ago. He helped the club back into the top flight in 2010-11 after relegation.
It is believed he will join on a three-year deal after enjoying a fine final season with Betis, helping the La Liga side secure a Europa League play-off spot. He moves to the Liberty Stadium on a free transfer.
Jenkins told the club's official website: "Myself, the manager and our recruitment staff are all agreed on the quality of players we would like to sign to help us remain competitive in the Barclays Premier League.
"We are continuing to work behind the scenes, in private wherever and whenever we can, to strengthen our squad. For that reason it's disappointing that I have to respond to the speculation of unrest at the club after the fantastic season we have had.
"There are substantial funds available to strengthen our squad over the summer while we are also in the privileged position, because of the way we've managed our finances over the years, that we do not need to sell anyone to fund those new recruits.
"It goes without saying that some of our targets will sign for other clubs for different reasons. But that's the same for every club. The important thing, and a factor that has always been vitally important for us, is that we sign players who want to play for Swansea City for footballing reasons. If not, then we move on to the next target. I think most people will agree that it is a policy that has served this football club, and more importantly our fans, well over the last decade.
"It is true that I have not sat down with our manager since the last game of the season against Fulham, but that's because we have both been away on holidays at different times. It doesn't mean we haven't spoken because I've had numerous conversations with Michael over the phone and there's been no difference of opinion on our original transfer targets.
"We have built up a strong reputation over the last few years at Swansea and I believe we have gone about our business in the right way. We have to remain strong for the sake of our supporters and make sure this proud reputation is protected at all costs.
"A lot of hard work has been done to try and maintain and improve on the incredible journey we have had over the last 10 years. That work will continue."