Valencia have exercised their right to buy Spain striker Rodrigo Moreno from Benfica for 30 million (Dh124m) after a successful loan spell.

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The 24-year-old joined Valencia last summer after three seasons in Portugal and scored three goals and set up four more in 31 league appearances to help the club finish fourth in La Liga.

Rodrigo has put pen to paper on a four-year deal with the Che outfit.

Rodrigo, who made his Spain debut last October in a Euro 2016 qualifier against Luxembourg, is delighted with his permanent switch to the Mestalla.

“After a year in Valencia, I feel really happy and determined to be better every day,” he said. “Mybiggest aim is to help Valencia remain competitive and improve. I want to help the club achieve all of its aims and I hope to score many more goals.”

Valencia will have to go through qualifying this summer in order to play in the Champions League next season.

“Now we will have to prepare for the Champions League preliminary round,” Rodrigo added. “I’ve been fortunate enough to play in this competition with Benfica and now I want to do so with Valencia.”

In the meantime, Valencia midfielder Dani Parejo is close to tying up a lucrative four-year contract.

Parejo, who has one year left on his current deal, enjoyed an impressive campaign, scoring 12 goals and providing five assists in 34 league appearances.