FC Porto pair Joao Moutinho and James Rodriguez have signed for newly promoted Ligue I club Monaco. Porto sent out a statement to the Portuguese Securities Market Commission (CMVM) confirming that the Portuguese international and Colombian international have signed for a combined fee of 70 million euros. Joao Moutinho who is 26 years old signed for 25 million euros and James Rodriguez signed for 45 million euros. Both players have signed five-year contracts with Monaco, who were promoted to France's top division this year under the Italian coach Claudio Ranieri.
The announcement today puts an end to a lot of speculation surrounding both players. Joao Moutinho was very close to joining Tottenham Hotspur in January, and James Rodriguez was almost everyday associated with clubs such as Manchester United. James Rodriguez who is 21 years old is the most expensive player in French football history, ahead of Paris Saint-Germain's Zlatan Ibrahimovic and Thiago Silva. Monaco are currently bankrolled by Russian billionaire Dmitry Rybolovlev. The date for Joao Moutinho and James Rodriguez's official unveiling has yet to be announced, but should be when the club returns from vacation.